New Era Energy & Digital (NASDAQ:NUAI) Stock Sees Unusually High Call Option Buying

Key Points

• Unusually high call-option activity: Investors purchased 30,276 NUAI call options, about 85% above the typical volume of 16,328 contracts.
• Institutional ownership increased: State Street raised its stake by 2,040% in the second quarter, while several other funds opened new positions; institutions now own 21.9% of the company.
• Shares fell despite bullish analyst targets: NUAI dropped 9.7% to $4.99 after reporting a larger-than-expected quarterly loss, while analysts’ average price target remains $11.25 and the consensus rating is “Moderate Buy.”

New Era Energy & Digital Inc (NASDAQ:NUAI - Get Free Report) saw unusually large options trading activity on Thursday. Investors purchased 30,276 call options on the stock. This represents an increase of 85% compared to the typical volume of 16,328 call options.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NUAI. State Street Corp boosted its stake in shares of 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 purchasing an additional 3,984,091 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in New Era Energy & Digital in the second quarter valued at $2,267,000. WINTON GROUP Ltd acquired a new stake in New Era Energy & Digital during the 2nd quarter worth about $117,000. Integrated Wealth Concepts LLC bought a new position in shares of New Era Energy & Digital in the 2nd quarter worth about $64,000. Finally, FirstWave Capital Management LLC bought a new position in shares of New Era Energy & Digital in the 2nd quarter worth about $1,608,000. Institutional investors own 21.90% of the company's stock.

New Era Energy & Digital Trading Down 9.7%

NASDAQ NUAI traded down $0.54 on Thursday, reaching $4.99. The company had a trading volume of 9,123,849 shares, compared to its average volume of 6,660,334. The firm has a market cap of $531.84 million, a price-to-earnings ratio of -5.09 and a beta of 1.19. New Era Energy & Digital has a fifty-two week low of $1.55 and a fifty-two week high of $9.44. The business has a 50 day moving average of $5.66 and a two-hundred day moving average of $5.10. 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 quarterly earnings results on Friday, August 14th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $0.04 million during the quarter. Analysts forecast that New Era Energy & Digital will post -0.5 EPS for the current year.

Analysts Set New Price Targets

NUAI has been the subject of a number of research reports. New Street Research set a $10.00 price target on New Era Energy & Digital in a research note on Tuesday, July 7th. Wall Street Zen cut New Era Energy & Digital from a "sell" rating to a "strong sell" rating in a report 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. Roth Capital began coverage on New Era Energy & Digital in a report on Wednesday. They set a "buy" rating and a $10.00 price target on the stock. Finally, B. Riley Financial upped 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.25.

New Era Energy & Digital Company Profile

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