Wellington Management Group LLP Takes $7.23 Million Position in ERock, Inc. $EROC

Wellington Management Group LLP acquired a new stake in ERock, Inc. (NYSE:EROC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 498,508 shares of the company’s stock, valued at approximately $7,228,000.

Separately, Kayne Anderson Capital Advisors LP acquired a new position in ERock during the 2nd quarter valued at approximately $710,000.

ERock Trading Up 12.2%

NYSE:EROC opened at $13.84 on Wednesday. The business has a fifty day simple moving average of $12.54. ERock, Inc. has a 1-year low of $8.88 and a 1-year high of $20.70.

ERock (NYSE:EROC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $39.88 million during the quarter, compared to analysts’ expectations of $26.45 million. Research analysts predict that ERock, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EROC has been the subject of several research reports. Bank of America upgraded shares of ERock from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday, July 17th. Weiss Ratings started coverage on ERock in a research note on Friday. They issued a “sell (e-)” rating for the company. Guggenheim lowered their price target on ERock from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, September 2nd. BNP Paribas Exane set a $22.00 price target on ERock and gave the company an “outperform” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised ERock to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ERock currently has an average rating of “Moderate Buy” and an average target price of $22.50.

ERock Profile

ERock Inc provide onsite power solutions. ERock Inc is based in HOUSTON.