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

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

New Era Energy & Digital Stock Performance

Shares of NASDAQ:NUAI traded down $0.88 during trading on Wednesday, hitting $3.41. 17,687,530 shares of the company traded hands, compared to its average volume of 6,805,720. The stock has a market capitalization of $363.37 million, a price-to-earnings ratio of -3.48 and a beta of 1.19. The business’s fifty day moving average is $5.62 and its 200-day moving average is $5.09. New Era Energy & Digital Inc has a one year low of $2.01 and a one year high of $9.44. 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 announced 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). The company 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 analysts predict that New Era Energy & Digital Inc will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NUAI. BlackRock Inc. bought a new position in New Era Energy & Digital in the 2nd quarter worth approximately $45,986,000. State Street Corp raised its stake 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 valued at $26,665,000 after acquiring an additional 3,984,091 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in New Era Energy & Digital during the 2nd quarter valued at $10,927,000. First Trust Advisors LP raised its stake in New Era Energy & Digital by 113.5% during the 1st quarter. First Trust Advisors LP now owns 1,614,504 shares of the company’s stock valued at $6,555,000 after acquiring an additional 858,329 shares in the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in New Era Energy & Digital during the 2nd quarter worth $2,267,000. Institutional investors own 21.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NUAI. New Street Research set a $10.00 price objective on New Era Energy & Digital in a research note on Tuesday, July 7th. Roth Capital assumed coverage on New Era Energy & Digital in a research note on Wednesday, October 7th. They issued a “buy” rating and a $10.00 target price on the stock. Wall Street Zen cut New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Finally, B. Riley Financial upped 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 report on Tuesday, September 29th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.25.

About New Era Energy & Digital