New Era Energy & Digital Inc (NASDAQ:NUAI) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst sentiment is “Moderate Buy”: Of seven covering brokerages, four rate NUAI a buy, one a strong buy, one hold and one sell; the average 12-month price target is $9.60.
• Major shareholder Kent C. McCarthy sold 4.09 million shares for about $14.8 million, reducing his stake by 42.83%. Institutional ownership stands at 21.9%.
• The company reported a quarterly loss of $0.21 per share, missing the $0.09-per-share consensus, on just $0.04 million in revenue. Shares opened at $2.07, compared with a 52-week range of $1.57 to $9.45.

New Era Energy & Digital Inc (NASDAQ:NUAI - Get Free Report) has received an average rating of "Moderate Buy" from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $9.60.

Several research firms have recently commented on NUAI. B. Riley Financial decreased their price objective on New Era Energy & Digital from $13.00 to $10.00 and set a "buy" rating for the company in a report on Friday, October 30th. Alliance Global Partners initiated coverage on New Era Energy & Digital in a research report on Thursday. They set a "buy" rating and a $6.00 target price on the stock. Roth Capital initiated coverage on New Era Energy & Digital in a report on Wednesday, October 7th. They issued a "buy" rating and a $10.00 target price on the stock. Weiss Ratings raised shares of New Era Energy & Digital from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 14th. Finally, Wall Street Zen downgraded shares of New Era Energy & Digital from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st.

Insiders Place Their Bets

In other New Era Energy & Digital news, major shareholder Kent C. Mccarthy sold 4,090,000 shares of the company's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $3.61, for a total transaction of $14,764,900.00. Following the transaction, the insider owned 5,460,000 shares in the company, valued at approximately $19,710,600. This represents a 42.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.07% of the company's stock.

Institutional Investors Weigh In On New Era Energy & Digital

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of New Era Energy & Digital in the second quarter worth approximately $45,986,000. State Street Corp lifted its holdings in shares of New Era Energy & Digital by 2,040.0% in the second quarter. State Street Corp now owns 4,179,391 shares of the company's stock valued at $26,665,000 after purchasing an additional 3,984,091 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of New Era Energy & Digital during the second quarter valued at approximately $10,927,000. First Trust Advisors LP boosted its position in shares of New Era Energy & Digital by 113.5% during the first quarter. First Trust Advisors LP now owns 1,614,504 shares of the company's stock valued at $6,555,000 after buying an additional 858,329 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of New Era Energy & Digital during the second quarter valued at approximately $2,267,000. 21.90% of the stock is owned by institutional investors.

New Era Energy & Digital Price Performance

NUAI stock opened at $2.07 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.21 and a quick ratio of 14.21. The company's 50-day moving average is $4.77 and its 200-day moving average is $4.96. The stock has a market capitalization of $220.58 million, a PE ratio of -2.11 and a beta of 1.30. New Era Energy & Digital has a 1 year low of $1.57 and a 1 year high of $9.45.

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 net margin of 4,388.71% and a negative return on equity of 121.41%. The firm had revenue of $0.04 million during the quarter. Equities research analysts expect that New Era Energy & Digital will post -0.59 EPS for the current fiscal year.

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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