New Era Energy & Digital (NASDAQ:NUAI) Stock Price Target Lowered at B. Riley Financial

Key Points

• B. Riley Financial lowered its price target for New Era Energy & Digital from $13 to $10 but maintained a “Buy” rating, implying 275.23% upside from the prior close.
• Analyst sentiment remains mixed but leans positive, with the stock carrying a “Moderate Buy” consensus rating and an average target price of $10.50.
• New Era Energy & Digital reported a quarterly EPS loss of $0.21, missing estimates by $0.12, while major shareholder Kent C. McCarthy sold 4.09 million shares worth about $14.8 million.

New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) had its price objective decreased by B. Riley Financial from $13.00 to $10.00 in a report released on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley Financial's price objective would suggest a potential upside of 275.23% from the company's previous close.

A number of other equities research analysts have also recently weighed in on NUAI. Wall Street Zen cut shares of New Era Energy & Digital from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Weiss Ratings raised New Era Energy & Digital from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 14th. Roth Capital started coverage on New Era Energy & Digital in a research note on Wednesday, October 7th. They issued a "buy" rating and a $10.00 price target on the stock. New Street Research set a $10.00 price objective on New Era Energy & Digital in a research report on Tuesday, July 7th. Finally, Northland Securities set a $12.00 price target on New Era Energy & Digital in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $10.50.

New Era Energy & Digital Trading Down 6.8%

NASDAQ NUAI opened at $2.67 on Friday. New Era Energy & Digital has a fifty-two week low of $2.01 and a fifty-two week high of $9.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.21 and a current ratio of 14.21. The stock has a 50 day simple moving average of $5.10 and a two-hundred day simple moving average of $5.02. The stock has a market cap of $283.98 million, a P/E ratio of -2.76 and a beta of 1.19.

New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $0.04 million for the quarter. New Era Energy & Digital had a negative net margin of 4,388.71% and a negative return on equity of 121.41%. On average, analysts forecast that New Era Energy & Digital will post -0.58 earnings per share for the current year.

Insider Buying and Selling at New Era Energy & Digital

In other New Era Energy & Digital news, major shareholder Kent C. Mccarthy sold 4,090,000 shares of the firm's stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $3.61, for a total transaction of $14,764,900.00. Following the sale, the insider directly owned 5,460,000 shares of the company's stock, valued at $19,710,600. This trade represents a 42.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NUAI. Quantbot Technologies LP purchased a new position in shares of New Era Energy & Digital in the 2nd quarter worth approximately $36,000. Legal & General Group Plc bought a new stake in shares of New Era Energy & Digital in the second quarter valued at about $50,000. State of Wyoming purchased a new stake in shares of New Era Energy & Digital in the 2nd quarter worth approximately $51,000. Integrated Wealth Concepts LLC purchased a new stake in New Era Energy & Digital during the second quarter worth $64,000. Finally, Cetera Investment Advisers purchased a new position in New Era Energy & Digital in the first quarter valued at about $70,000. 21.90% of the stock is currently owned by institutional investors.

About New Era Energy & Digital

New Era Energy & Digital, Inc is an energy and digital infrastructure company focused on developing projects that combine energy resources with data-center and high-performance computing applications. Its activities are centered on supporting digital infrastructure, including facilities designed for artificial intelligence, data processing and related computing services.

The company was previously known as New Era Helium, Inc and historically pursued helium exploration and development opportunities.

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