State Street Corp Acquires 3,984,091 Shares of New Era Energy & Digital Inc $NUAI

Key Points

• State Street increased its New Era Energy & Digital stake by 2,040% in the second quarter, acquiring 3,984,091 shares and bringing its total ownership to 4,179,391 shares, or about 3.92% of the company.
• Several other institutions also bought or expanded positions, including BlackRock and Alyeska Investment Group. Institutional investors and hedge funds now own approximately 21.9% of NUAI.
• NUAI reported a quarterly loss of $0.21 per share, missing the $0.09 consensus estimate, while analysts maintain a “Moderate Buy” consensus with an average price target of $10.67 versus the stock’s $7.06 opening price.

State Street Corp grew its holdings in New Era Energy & Digital Inc (NASDAQ:NUAI - Free Report) by 2,040.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,179,391 shares of the company's stock after purchasing an additional 3,984,091 shares during the period. State Street Corp owned approximately 3.92% of New Era Energy & Digital worth $26,665,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NUAI. BlackRock Inc. bought a new position in New Era Energy & Digital in the second quarter valued at about $45,986,000. Alyeska Investment Group L.P. bought a new position in shares of New Era Energy & Digital in the second quarter worth about $10,927,000. First Trust Advisors LP boosted its stake in shares of New Era Energy & Digital by 113.5% in the 1st quarter. First Trust Advisors LP now owns 1,614,504 shares of the company's stock valued at $6,555,000 after purchasing an additional 858,329 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of New Era Energy & Digital in the 2nd quarter valued at approximately $2,267,000. Finally, FirstWave Capital Management LLC acquired a new stake in shares of New Era Energy & Digital in the 2nd quarter valued at approximately $1,608,000. Institutional investors and hedge funds own 21.90% of the company's stock.

New Era Energy & Digital Stock Performance

NASDAQ NUAI opened at $7.06 on Friday. The company has a fifty day moving average price of $5.45 and a 200-day moving average price of $5.03. The firm has a market cap of $752.31 million, a price-to-earnings ratio of -7.20 and a beta of 1.24. 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 Inc has a 1 year low of $1.47 and a 1 year high of $9.44.

New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.12). The business had revenue of $0.04 million during the quarter. New Era Energy & Digital had a negative return on equity of 121.41% and a negative net margin of 4,388.71%. As a group, equities research analysts predict that New Era Energy & Digital Inc will post -0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of New Era Energy & Digital from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. New Street Research set a $10.00 price target on New Era Energy & Digital in a research note on Tuesday, July 7th. Weiss Ratings raised New Era Energy & Digital from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 14th. B. Riley Financial started coverage on New Era Energy & Digital in a research report on Tuesday, July 7th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Northland Securities set a $12.00 target price on New Era Energy & Digital in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $10.67.

New Era Energy & Digital Profile

New Era Energy & Digital, Inc NASDAQ: NUAI is an energy and digital-infrastructure company focused on developing and operating assets that connect energy production with data-intensive computing. The company's activities have included energy projects and digital infrastructure initiatives, including facilities intended to support data centers, high-performance computing and cryptocurrency mining.

The company was formerly known as New Era Helium, Inc, reflecting its earlier focus on helium-related opportunities.

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