EagleRock Land, LLC (NYSE:EROK) Short Interest Up 81.2% in June

EagleRock Land, LLC (NYSE:EROK) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totaling 596,283 shares, an increase of 81.2% from the May 31st total of 329,123 shares. Based on an average daily volume of 272,362 shares, the short-interest ratio is presently 2.2 days. Approximately 0.5% of the company’s shares are sold short.

Insider Activity

In other news, Director Jeff Slaughter Lott bought 250,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $18.50 per share, with a total value of $4,625,000.00. Following the purchase, the director directly owned 250,000 shares in the company, valued at $4,625,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Raj Kumar bought 5,405 shares of EagleRock Land stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $18.50 per share, with a total value of $99,992.50. Following the acquisition, the director directly owned 5,405 shares of the company’s stock, valued at approximately $99,992.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 518,918 shares of company stock valued at $9,599,983.

EagleRock Land Price Performance

NYSE:EROK opened at $21.37 on Thursday. EagleRock Land has a 52 week low of $19.75 and a 52 week high of $24.80.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Pickering Energy Partners assumed coverage on EagleRock Land in a research note on Monday, June 8th. They set an “outperform” rating on the stock. Raymond James Financial initiated coverage on shares of EagleRock Land in a research report on Monday, June 8th. They issued an “outperform” rating and a $25.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of EagleRock Land in a research report on Monday, June 8th. They set a “neutral” rating and a $24.00 price objective on the stock. Barclays initiated coverage on shares of EagleRock Land in a research note on Monday, June 8th. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, Piper Sandler began coverage on shares of EagleRock Land in a research note on Monday, June 8th. They set an “overweight” rating and a $28.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.83.