New Era Energy & Digital (NASDAQ:NUAI) Stock: Insider Kent Mccarthy Sells 4,090,000 Shares

Key Points

• Major shareholder Kent Mccarthy sold 4.09 million NUAI shares at an average price of $3.61, generating approximately $14.76 million. His remaining stake fell 42.83% to 5.46 million shares.
• NUAI shares declined 6.6% to $3.11, well below their 50-day and 200-day moving averages. The company recently reported a quarterly loss of $0.21 per share versus the expected $0.09 loss, with revenue of just $40,000.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $11.25, although ratings range from “Strong Buy” to “Sell.”

New Era Energy & Digital Inc (NASDAQ:NUAI - Get Free Report) major shareholder Kent Mccarthy sold 4,090,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 5,460,000 shares in the company, valued at approximately $19,710,600. This trade represents a 42.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

New Era Energy & Digital Stock Down 6.6%

NASDAQ NUAI traded down $0.22 on Friday, hitting $3.11. 10,481,434 shares of the stock traded hands, compared to its average volume of 6,864,434. The company has a current ratio of 14.21, a quick ratio of 14.21 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $5.55 and a 200 day moving average of $5.08. New Era Energy & Digital Inc has a twelve month low of $2.01 and a twelve month high of $9.44. The company has a market capitalization of $331.40 million, a P/E ratio of -3.17 and a beta of 1.19.

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 the consensus estimate 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 during the quarter. As a group, analysts expect that New Era Energy & Digital Inc will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of New Era Energy & Digital

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Roth Capital began coverage on shares of New Era Energy & Digital in a research note on Wednesday, October 7th. They set a "buy" rating and a $10.00 target price for the company. 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. B. Riley Financial raised their price target on shares of New Era Energy & Digital from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, September 29th. New Street Research set a $10.00 price target on shares of New Era Energy & Digital in a report on Tuesday, July 7th. Finally, Northland Securities set a $12.00 price objective on shares of New Era Energy & Digital in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.25.

About New Era Energy & Digital

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