Era Group Inc. (ERA) Sees Large Volume Increase
Shares of Era Group Inc. (NYSE:ERA) saw an uptick in trading volume on Friday . 183,782 shares traded hands during mid-day trading, an increase of 149% from the previous session’s volume of 73,719 shares.The stock last traded at $8.78 and had previously closed at $8.78.
Separately, TheStreet lowered shares of Era Group from a “hold” rating to a “sell” rating in a research note on Friday, May 6th.
The company has a 50 day moving average price of $9.72 and a 200 day moving average price of $9.41. The firm has a market cap of $183.32 million and a price-to-earnings ratio of 37.84.
A number of hedge funds and institutional investors have modified their holdings of the stock. First Trust Advisors LP raised its position in shares of Era Group by 35.5% in the fourth quarter. First Trust Advisors LP now owns 167,244 shares of the company’s stock worth $1,865,000 after buying an additional 43,797 shares during the period. Royce & Associates LLC raised its position in shares of Era Group by 38.7% in the fourth quarter. Royce & Associates LLC now owns 911,275 shares of the company’s stock worth $10,161,000 after buying an additional 254,335 shares during the period. Finally, Eii Capital Management Inc. raised its position in shares of Era Group by 9.6% in the fourth quarter. Eii Capital Management Inc. now owns 183,530 shares of the company’s stock worth $2,046,000 after buying an additional 16,150 shares during the period.
Era Group Inc is engaged in operating helicopters. The Company’s helicopters transport personnel to, from and between offshore oil and gas production platforms, drilling rigs and other installations. The Company also dry-leases helicopters to third-party helicopter operators and foreign affiliates. The primary users of the Company’s helicopter services are international, integrated and independent oil and gas exploration, development and production companies.
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