New Era Helium (NASDAQ:NEHC) Shares Up 26.4% – What’s Next?

New Era Helium Inc. (NASDAQ:NEHC)’s stock price shot up 26.4% during mid-day trading on Tuesday . The stock traded as high as $5.18 and last traded at $5.15. Approximately 16,841,781 shares traded hands during mid-day trading, an increase of 1,826% from the average session volume of 874,269 shares. The stock had previously closed at $4.0750.

New Era Helium Stock Down 1.7%

The firm has a market capitalization of $84.09 million, a PE ratio of -14.17 and a beta of 0.19. The firm’s 50 day moving average price is $5.06 and its two-hundred day moving average price is $4.91.

Hedge Funds Weigh In On New Era Helium

A hedge fund recently raised its position in New Era Helium stock. Shay Capital LLC grew its holdings in shares of New Era Helium Inc. (NASDAQ:NEHC) by 114.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,930 shares of the company’s stock after acquiring an additional 100,692 shares during the period. Shay Capital LLC owned about 1.31% of New Era Helium worth $86,000 as of its most recent SEC filing. 21.90% of the stock is owned by institutional investors and hedge funds.

New Era Helium Company Profile

New Era Helium Inc (NASDAQ: NEHC) is a mineral exploration company focused on the identification, acquisition and development of helium-bearing properties. The company’s primary objective is to bring new sources of helium to market, addressing global shortages of this strategic gas used in sectors ranging from healthcare and electronics to aerospace and scientific research.

New Era Helium holds a portfolio of exploration licences and leases in North America and Europe, with a particular emphasis on underexplored basins known to host helium accumulations.