New Era Energy & Digital (NASDAQ:NUAI) Stock Rated "Buy" in New Coverage at Alliance Global Partners

Key Points

• Alliance Global Partners initiated coverage with a Buy rating and a $6 price target, implying about 174% upside from the stock’s current price. Analysts’ consensus is “Moderate Buy,” with an average target of $9.60.
• NUAI shares were reported down 21.2% and opened at $2.19. The company missed quarterly EPS estimates, reporting a $0.21 loss per share versus the $0.09 loss expected, on just $0.04 million in revenue.
• Major shareholder Kent C. McCarthy sold 4.09 million shares for about $14.8 million, reducing his position by 42.83%.

Alliance Global Partners began coverage on shares of New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) in a research note issued on Thursday, MarketBeat reports. The firm set a "buy" rating and a $6.00 price target on the stock. Alliance Global Partners's target price points to a potential upside of 173.97% from the company's current price.

Several other analysts have also commented on the stock. Roth Capital assumed coverage on shares of New Era Energy & Digital in a research report on Wednesday, October 7th. They set a "buy" rating and a $10.00 price target on the stock. Wall Street Zen cut New Era Energy & Digital from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Weiss Ratings raised New Era Energy & Digital from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. B. Riley Financial reduced their target price on New Era Energy & Digital from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, October 30th. Finally, Northland Securities set a $12.00 price target on New Era Energy & Digital in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, New Era Energy & Digital has a consensus rating of "Moderate Buy" and a consensus target price of $9.60.

New Era Energy & Digital Trading Down 21.2%

Shares of NUAI opened at $2.19 on Thursday. New Era Energy & Digital has a 12-month low of $2.01 and a 12-month high of $9.44. The firm has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.21 and a quick ratio of 14.21.

New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.12). New Era Energy & Digital had a negative return on equity of 121.41% and a negative net margin of 4,388.71%. The firm had revenue of $0.04 million for the quarter. On average, sell-side analysts expect that New Era Energy & Digital will post -0.59 earnings per share for the current fiscal year.

Insider Activity at New Era Energy & Digital

In other news, major shareholder Kent C. Mccarthy sold 4,090,000 shares of the company's stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $3.61, for a total value of $14,764,900.00. Following the transaction, the insider directly owned 5,460,000 shares in the company, valued at approximately $19,710,600. This represents a 42.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.07% of the company's stock.

Institutional Trading of New Era Energy & Digital

Institutional investors have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS purchased a new stake in shares of New Era Energy & Digital in the 3rd quarter valued at $1,069,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in New Era Energy & Digital during the 3rd quarter worth about $112,000. Quadcap Wealth Management LLC purchased a new position in New Era Energy & Digital during the 3rd quarter valued at about $191,000. Commonwealth Equity Services LLC purchased a new position in New Era Energy & Digital during the 3rd quarter valued at about $142,000. Finally, State Street Corp grew its position in New Era Energy & Digital by 2,040.0% in the 2nd quarter. State Street Corp now owns 4,179,391 shares of the company's stock valued at $26,665,000 after acquiring an additional 3,984,091 shares in the last quarter. Institutional investors and hedge funds own 21.90% of the company's stock.

New Era Energy & Digital Company Profile

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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