New Era Energy & Digital (NASDAQ:NUAI) Stock: Insider Trent Yang Sells 49,397 Shares

New Era Energy & Digital Inc (NASDAQ:NUAI) Director Trent Yang sold 49,397 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $1.99, for a total value of $98,300.03. Following the transaction, the director owned 210,151 shares of the company’s stock, valued at $418,200.49. This represents a 19.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

New Era Energy & Digital Stock Performance

NUAI stock traded down $0.13 during midday trading on Friday, hitting $2.73. 8,222,161 shares of the company traded hands, compared to its average volume of 7,055,533. The company has a quick ratio of 14.21, a current ratio of 14.21 and a debt-to-equity ratio of 0.11. The business has a 50 day simple moving average of $5.10 and a 200-day simple moving average of $5.02. New Era Energy & Digital Inc has a twelve month low of $2.01 and a twelve month high of $9.44. The stock has a market capitalization of $290.91 million, a price-to-earnings ratio of -2.79 and a beta of 1.19.

New Era Energy & Digital (NASDAQ:NUAI) last released its quarterly earnings data 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 for the quarter. New Era Energy & Digital had a negative return on equity of 121.41% and a negative net margin of 4,388.71%. As a group, equities research analysts predict that New Era Energy & Digital Inc will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

NUAI has been the subject of a number of research analyst reports. New Street Research set a $10.00 price objective on shares of New Era Energy & Digital in a report on Tuesday, July 7th. 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 price target on New Era Energy & Digital in a report on Tuesday, August 18th. Roth Capital initiated coverage on New Era Energy & Digital in a research report on Wednesday, October 7th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Wall Street Zen cut shares of New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, New Era Energy & Digital currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Institutional Investors Weigh In On New Era Energy & Digital

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in New Era Energy & Digital during the second quarter worth about $45,986,000. State Street Corp grew its position in New Era Energy & Digital by 2,040.0% during the 2nd quarter. State Street Corp now owns 4,179,391 shares of the company’s stock worth $26,665,000 after purchasing an additional 3,984,091 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in New Era Energy & Digital in the 2nd quarter valued at $10,927,000. First Trust Advisors LP increased its holdings in shares of New Era Energy & Digital by 113.5% in the first quarter. First Trust Advisors LP now owns 1,614,504 shares of the company’s stock valued at $6,555,000 after purchasing an additional 858,329 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of New Era Energy & Digital in the 2nd quarter valued at $2,267,000. 21.90% of the stock is currently owned by institutional investors.

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.