ERock (NYSE:EROC) Stock Price Target Lowered at JPMorgan Chase & Co.

ERock (NYSE:EROC) had its price objective cut by analysts at JPMorgan Chase & Co. from $21.00 to $18.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 102.25% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Bank of America upgraded ERock from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, July 17th. Evercore started coverage on ERock in a research report on Monday, July 6th. They issued an “outperform” rating and a $28.00 price objective for the company. Barclays assumed coverage on shares of ERock in a report on Monday, July 6th. They set an “overweight” rating and a $23.00 target price for the company. Wolfe Research began coverage on ERock in a research note on Monday, July 6th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Guggenheim cut their target price on ERock from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

ERock Trading Down 4.2%

ERock stock traded down $0.39 during mid-day trading on Monday, hitting $8.90. The company’s stock had a trading volume of 2,274,262 shares, compared to its average volume of 2,536,319. The stock has a market cap of $428.71 million and a PE ratio of -148.33. The business has a 50 day moving average of $12.57. ERock has a 12 month low of $8.73 and a 12 month high of $20.70.

ERock (NYSE:EROC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $39.88 million for the quarter, compared to the consensus estimate of $26.45 million. Equities analysts forecast that ERock will post -0.32 earnings per share for the current year.

Institutional Trading of ERock

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new stake in ERock during the 2nd quarter valued at approximately $515,000. Q Fund Management Hong Kong Ltd purchased a new position in shares of ERock during the 3rd quarter worth approximately $510,000. Kayne Anderson Capital Advisors LP bought a new position in shares of ERock in the 2nd quarter worth approximately $710,000. Readystate Asset Management LP purchased a new stake in ERock in the second quarter worth $725,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in ERock in the third quarter worth $617,000.

About ERock

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