New Era Energy & Digital (NASDAQ:NUAI) Now Covered by Alliance Global Partners

Alliance Global Partners began coverage on shares of New Era Energy & Digital (NASDAQ:NUAI) in a research report released on Thursday, MarketBeat reports. The firm issued a buy rating and a $6.00 price target on the stock.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Roth Capital initiated 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 on the stock. Weiss Ratings raised shares of New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Northland Securities set a $12.00 target price on shares of New Era Energy & Digital in a report on Tuesday, August 18th. Finally, B. Riley Financial reduced their target price on shares of New Era Energy & Digital from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, New Era Energy & Digital presently has an average rating of “Moderate Buy” and an average target price of $9.60.

New Era Energy & Digital Price Performance

NASDAQ:NUAI opened at $1.63 on Thursday. The stock has a 50 day moving average of $4.83 and a two-hundred day moving average of $4.97. New Era Energy & Digital has a 12 month low of $1.59 and a 12 month high of $9.44. The firm has a market cap of $173.69 million, a P/E ratio of -1.66 and a beta of 1.30. The company has a current ratio of 14.21, a quick ratio of 14.21 and a debt-to-equity ratio of 0.11.

New Era Energy & Digital (NASDAQ:NUAI) last released its 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). The firm had revenue of $0.04 million during the quarter. New Era Energy & Digital had a negative net margin of 4,388.71% and a negative return on equity of 121.41%. On average, analysts expect that New Era Energy & Digital will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at New Era Energy & Digital

In other news, major shareholder Kent C. Mccarthy sold 4,090,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $3.61, for a total value of $14,764,900.00. Following the completion of the sale, the insider directly owned 5,460,000 shares in the company, valued at $19,710,600. This represents a 42.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New Era Energy & Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new stake in shares of New Era Energy & Digital in the 3rd quarter worth $98,000. Kornitzer Capital Management Inc. KS acquired a new position in shares of New Era Energy & Digital during the 3rd quarter valued at about $1,069,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of New Era Energy & Digital during the 3rd quarter valued at about $112,000. Quadcap Wealth Management LLC acquired a new position in shares of New Era Energy & Digital during the 3rd quarter valued at about $191,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of New Era Energy & Digital in the third quarter valued at about $142,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

About New Era Energy & Digital

New Era Energy & Digital, Inc is an energy and digital infrastructure company focused on developing projects that combine energy resources with data-center and high-performance computing applications. Its activities are centered on supporting digital infrastructure, including facilities designed for artificial intelligence, data processing and related computing services.

The company was previously known as New Era Helium, Inc and historically pursued helium exploration and development opportunities.