New Era Energy & Digital (NASDAQ:NUAI) Stock Picked Up by Analysts at Alliance Global Partners

Stock analysts at Alliance Global Partners assumed coverage on shares of New Era Energy & Digital (NASDAQ:NUAI) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $6.00 price target on the stock. Alliance Global Partners‘s price target would suggest a potential upside of 189.86% from the company’s previous close.

Other equities analysts have also issued reports about the stock. 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. B. Riley Financial reduced their price target on shares of New Era Energy & Digital from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Roth Capital initiated coverage on New Era Energy & Digital in a report on Wednesday, October 7th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Northland Securities set a $12.00 price objective on New Era Energy & Digital in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, New Era Energy & Digital currently has an average rating of “Moderate Buy” and a consensus price target of $9.60.

New Era Energy & Digital Trading Up 27.0%

NASDAQ:NUAI traded up $0.44 during trading hours on Thursday, hitting $2.07. The company had a trading volume of 18,084,971 shares, compared to its average volume of 10,879,979. New Era Energy & Digital has a 1 year low of $1.57 and a 1 year high of $9.45. The company has a market cap of $220.58 million, a P/E ratio of -2.11 and a beta of 1.30. The company has a 50-day moving average of $4.77 and a 200 day moving average of $4.96. 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 announced its quarterly 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). 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 for the quarter. Sell-side analysts expect that New Era Energy & Digital will post -0.59 earnings per share for the current year.

Insider Buying and Selling at New Era Energy & Digital

In related news, major shareholder Kent C. Mccarthy sold 4,090,000 shares of New Era Energy & Digital stock in a transaction that occurred on Wednesday, October 14th. The shares were 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 owned 5,460,000 shares in the company, valued at approximately $19,710,600. This trade represents a 42.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of New Era Energy & Digital during the second quarter worth $36,000. Legal & General Group Plc purchased a new stake in shares of New Era Energy & Digital in the 2nd quarter valued at $50,000. State of Wyoming acquired a new position in New Era Energy & Digital during the 2nd quarter worth about $51,000. Integrated Wealth Concepts LLC acquired a new position in New Era Energy & Digital during the 2nd quarter worth about $64,000. Finally, Jefferies Financial Group Inc. acquired a new position in New Era Energy & Digital during the 3rd quarter worth about $98,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

New Era Energy & Digital Company Profile

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.