New Era Energy & Digital (NASDAQ:NUAI) Shares Gap Up - Here's Why

Key Points

• NUAI shares jumped at the open, rising from a previous close of $5.41 to $5.75 before trading near $5.72 on volume of about 1.29 million shares.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $10.67, compared with targets ranging from $10 to $12.
• The company reported a quarterly loss of $0.21 per share, missing estimates by $0.12, while revenue was only $40,000 and net and return-on-equity margins remained deeply negative.

New Era Energy & Digital Inc (NASDAQ:NUAI - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.41, but opened at $5.75. New Era Energy & Digital shares last traded at $5.7150, with a volume of 1,288,337 shares.

Analyst Ratings Changes

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

New Era Energy & Digital Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 14.21 and a quick ratio of 14.21. The company's fifty day moving average price is $5.10 and its 200 day moving average price is $4.93. The company has a market cap of $619.65 million, a PE ratio of -5.91 and a beta of 1.24.

New Era Energy & Digital (NASDAQ:NUAI - Get Free Report) last posted its quarterly earnings data 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 net margin of 4,388.71% and a negative return on equity of 121.41%. The firm had revenue of $0.04 million during the quarter. On average, equities research analysts predict that New Era Energy & Digital Inc will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On New Era Energy & Digital

Several large investors have recently modified their holdings of NUAI. BlackRock Inc. purchased a new stake in New Era Energy & Digital in the 2nd quarter worth about $45,986,000. Alyeska Investment Group L.P. purchased a new stake in New Era Energy & Digital during the second quarter valued at about $10,927,000. First Trust Advisors LP boosted its position in New Era Energy & Digital by 113.5% during the first quarter. First Trust Advisors LP now owns 1,614,504 shares of the company's stock worth $6,555,000 after purchasing an additional 858,329 shares during the period. UBS Group AG bought a new position in New Era Energy & Digital during the fourth quarter worth about $3,584,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of New Era Energy & Digital in the second quarter worth about $2,267,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

New Era Energy & Digital Company 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.

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.