Insider Buying: New Era Energy & Digital (NASDAQ:NUAI) Major Shareholder Purchases $1,192,500.00 in Stock

New Era Energy & Digital Inc (NASDAQ:NUAI) major shareholder Kent Mccarthy acquired 250,000 shares of New Era Energy & Digital stock in a transaction on Friday, October 9th. The shares were bought at an average price of $4.77 per share, for a total transaction of $1,192,500.00. Following the purchase, the insider owned 9,550,000 shares of the company’s stock, valued at $45,553,500. This represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

New Era Energy & Digital Stock Down 20.5%

Shares of NASDAQ NUAI traded down $0.88 on Wednesday, hitting $3.41. The company had a trading volume of 17,687,530 shares, compared to its average volume of 6,805,720. 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 Inc has a 12-month low of $2.01 and a 12-month high of $9.44. The firm has a market capitalization of $363.37 million, a P/E ratio of -3.48 and a beta of 1.19. The business has a 50 day moving average of $5.62 and a two-hundred day moving average of $5.09.

New Era Energy & Digital (NASDAQ:NUAI) last announced its earnings results on Friday, August 14th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The company had revenue of $0.04 million for the quarter. New Era Energy & Digital had a negative net margin of 4,388.71% and a negative return on equity of 121.41%. As a group, equities research analysts forecast that New Era Energy & Digital Inc will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On New Era Energy & Digital

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of New Era Energy & Digital during the second quarter worth $36,000. Legal & General Group Plc bought a new position in shares of New Era Energy & Digital in the 2nd quarter worth about $50,000. State of Wyoming acquired a new position in shares of New Era Energy & Digital in the 2nd quarter valued at about $51,000. Integrated Wealth Concepts LLC acquired a new position in shares of New Era Energy & Digital in the 2nd quarter valued at about $64,000. Finally, Cetera Investment Advisers acquired a new position in shares of New Era Energy & Digital in the 1st quarter valued at about $70,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NUAI shares. New Street Research set a $10.00 target price on New Era Energy & Digital in a research report on Tuesday, July 7th. Northland Securities set a $12.00 price target on New Era Energy & Digital in a report on Tuesday, August 18th. B. Riley Financial raised their price objective on New Era Energy & Digital from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, September 29th. Wall Street Zen lowered New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Roth Capital began coverage on New Era Energy & Digital in a report on Wednesday, October 7th. They set a “buy” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.25.

New Era Energy & Digital Company Profile