Insider Buying: New Era Energy & Digital (NASDAQ:NUAI) Major Shareholder Purchases $1,192,500.00 in Stock

Key Points

• Major shareholder Kent McCarthy purchased 250,000 NUAI shares at an average price of $4.77, spending $1.19 million and increasing his ownership by 2.69% to 9.55 million shares.
• New Era Energy & Digital shares fell 20.5% to $3.41, while the company reported a quarterly loss of $0.21 per share—worse than the expected $0.09 loss—and generated just $40,000 in revenue.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and an average price target of $11.25 versus the current share price.

New Era Energy & Digital Inc (NASDAQ:NUAI - Get Free Report) major shareholder Kent Mccarthy acquired 250,000 shares of New Era Energy & Digital stock in a transaction on Friday, October 9th. The shares were bought at an average price of $4.77 per share, for a total transaction of $1,192,500.00. Following the purchase, the insider owned 9,550,000 shares of the company's stock, valued at $45,553,500. This represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

New Era Energy & Digital Stock Down 20.5%

Shares of NASDAQ NUAI traded down $0.88 on Wednesday, hitting $3.41. The company had a trading volume of 17,687,530 shares, compared to its average volume of 6,805,720. The company has a quick ratio of 14.21, a current ratio of 14.21 and a debt-to-equity ratio of 0.11. New Era Energy & Digital Inc has a 12-month low of $2.01 and a 12-month high of $9.44. The firm has a market capitalization of $363.37 million, a P/E ratio of -3.48 and a beta of 1.19. The business has a 50 day moving average of $5.62 and a two-hundred day moving average of $5.09.

New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The company 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%. As a group, equities research analysts forecast that New Era Energy & Digital Inc will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Era Energy & Digital

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of New Era Energy & Digital during the second quarter worth $36,000. Legal & General Group Plc bought a new position in shares of New Era Energy & Digital in the 2nd quarter worth about $50,000. State of Wyoming acquired a new position in shares of New Era Energy & Digital in the 2nd quarter valued at about $51,000. Integrated Wealth Concepts LLC acquired a new position in shares of New Era Energy & Digital in the 2nd quarter valued at about $64,000. Finally, Cetera Investment Advisers acquired a new position in shares of New Era Energy & Digital in the 1st quarter valued at about $70,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NUAI shares. New Street Research set a $10.00 target price on New Era Energy & Digital in a research report on Tuesday, July 7th. Northland Securities set a $12.00 price target on New Era Energy & Digital in a report on Tuesday, August 18th. B. Riley Financial raised their price objective on New Era Energy & Digital from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, September 29th. Wall Street Zen lowered New Era Energy & Digital from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Finally, Roth Capital began coverage on New Era Energy & Digital in a report on Wednesday, October 7th. They set a "buy" rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.25.

New Era Energy & Digital Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.