New Era Energy & Digital Target of Unusually High Options Trading (NASDAQ:NUAI)

Key Points

• Options activity increased notably: Traders bought 18,106 put options on NUAI, about 15% above its average daily put volume.
• Institutional ownership stands at 21.90%: Several hedge funds and investment advisers recently initiated positions, though individual stakes were relatively small.
• Analyst sentiment is mixed but broadly positive: NUAI has a “Moderate Buy” consensus rating and a $10.67 target price, while the company recently missed quarterly EPS estimates and continues to report substantial losses.

New Era Energy & Digital Inc (NASDAQ:NUAI - Get Free Report) saw unusually large options trading on Monday. Traders acquired 18,106 put options on the company. This is an increase of 15% compared to the average daily volume of 15,711 put options.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NUAI. Quantbot Technologies LP purchased a new stake in shares of New Era Energy & Digital in the 2nd quarter worth about $36,000. Legal & General Group Plc purchased a new position in New Era Energy & Digital during the 2nd quarter valued at about $50,000. State of Wyoming acquired a new position in New Era Energy & Digital during the second quarter worth about $51,000. Integrated Wealth Concepts LLC purchased a new stake in shares of New Era Energy & Digital in the second quarter valued at about $64,000. Finally, Cetera Investment Advisers purchased a new stake in shares of New Era Energy & Digital in the first quarter valued at about $70,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NUAI. Northland Securities set a $12.00 price target on New Era Energy & Digital in a report on Tuesday, August 18th. B. Riley Financial assumed coverage on shares of New Era Energy & Digital in a research report on Tuesday, July 7th. They set a "buy" rating and a $10.00 price objective for the company. New Street Research set a $10.00 target price on shares of New Era Energy & Digital in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of New Era Energy & Digital from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of New Era Energy & Digital from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.67.

New Era Energy & Digital Price Performance

NUAI stock traded up $1.88 during trading on Monday, reaching $7.74. 11,660,826 shares of the company were exchanged, compared to its average volume of 6,448,593. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.21 and a current ratio of 14.21. The stock's 50 day moving average price is $5.15 and its 200 day moving average price is $4.95. New Era Energy & Digital has a 52-week low of $0.57 and a 52-week high of $9.44. The company has a market cap of $824.66 million, a P/E ratio of -7.89 and a beta of 1.24.

New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, analysts predict that New Era Energy & Digital will post -0.5 earnings per share for the current fiscal year.

About New Era Energy & Digital

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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