New Era Energy & Digital (NASDAQ:NUAI) Shares Gap Up – Should You Buy?

Shares of New Era Energy & Digital Inc (NASDAQ:NUAI) 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 trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Northland Securities set a $12.00 price objective on shares of New Era Energy & Digital in a report on Tuesday, August 18th. Weiss Ratings upgraded New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Wall Street Zen downgraded New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. New Street Research set a $10.00 price target on New Era Energy & Digital in a report on Tuesday, July 7th. Finally, B. Riley Financial started coverage on New Era Energy & Digital in a research report on Tuesday, July 7th. They issued a “buy” rating and a $10.00 price target for the company. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

New Era Energy & Digital Stock Performance

The business’s fifty day moving average price is $5.10 and its 200-day moving average price is $4.93. 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 stock has a market capitalization of $619.65 million, a PE ratio of -5.91 and a beta of 1.24.

New Era Energy & Digital (NASDAQ:NUAI) last issued its earnings results on Friday, August 14th. The company reported ($0.21) earnings per share (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, equities research analysts expect that New Era Energy & Digital Inc will post -0.5 EPS for the current year.

Institutional Trading of New Era Energy & Digital

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

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.