New Era Energy & Digital (NASDAQ:NUAI) Stock Price Down 6% – Here’s Why

Shares of New Era Energy & Digital Inc (NASDAQ:NUAI) traded down 6% during mid-day trading on Thursday. The stock traded as low as $6.34 and last traded at $6.3150. Approximately 1,002,119 shares changed hands during trading, a decline of 85% from the average session volume of 6,623,425 shares. The stock had previously closed at $6.72.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings upgraded New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Wall Street Zen downgraded New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Northland Securities set a $12.00 target price on New Era Energy & Digital in a research report on Tuesday, August 18th. New Street Research set a $10.00 price target on New Era Energy & Digital in a research report on Tuesday, July 7th. Finally, B. Riley Financial raised their price target on shares of New Era Energy & Digital from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

New Era Energy & Digital Stock Down 5.1%

The stock has a market cap of $679.53 million, a P/E ratio of -6.55 and a beta of 1.24. The firm has a 50 day simple moving average of $5.52 and a 200-day simple moving average of $5.08. The company has a quick ratio of 14.21, a current ratio of 14.21 and a debt-to-equity ratio of 0.11.

New Era Energy & Digital (NASDAQ:NUAI) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.04 million during the quarter. On average, equities research analysts forecast that New Era Energy & Digital Inc will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State Street Corp lifted its position in New Era Energy & Digital by 2,040.0% during the second quarter. State Street Corp now owns 4,179,391 shares of the company’s stock worth $26,665,000 after acquiring an additional 3,984,091 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in New Era Energy & Digital in the 2nd quarter valued at $2,267,000. WINTON GROUP Ltd acquired a new position in New Era Energy & Digital in the 2nd quarter valued at $117,000. Integrated Wealth Concepts LLC bought a new position in New Era Energy & Digital during the 2nd quarter worth $64,000. Finally, FirstWave Capital Management LLC bought a new position in New Era Energy & Digital during the 2nd quarter worth $1,608,000. 21.90% of the stock is owned by 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.