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

Stock analysts at Alliance Global Partners began coverage on shares of New Era Energy & Digital (NASDAQ:NUAI) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $6.00 price target on the stock. Alliance Global Partners‘s target price points to a potential upside of 173.97% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Weiss Ratings raised New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Northland Securities set a $12.00 price objective on New Era Energy & Digital in a research note 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, B. Riley Financial cut their target price on shares of New Era Energy & Digital from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, New Era Energy & Digital currently has an average rating of “Moderate Buy” and an average price target of $9.60.

New Era Energy & Digital Stock Performance

NASDAQ:NUAI opened at $2.19 on Thursday. The company has a fifty day simple moving average of $4.89 and a two-hundred day simple moving average of $4.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.21 and a current ratio of 14.21. New Era Energy & Digital has a 52 week low of $2.01 and a 52 week high of $9.44.

New Era Energy & Digital (NASDAQ:NUAI) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The company had revenue of $0.04 million during the quarter. New Era Energy & Digital had a negative net margin of 4,388.71% and a negative return on equity of 121.41%. Sell-side analysts predict that New Era Energy & Digital will post -0.59 earnings per share for the current year.

Insider Activity

In related news, major shareholder Kent C. Mccarthy sold 4,090,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $3.61, for a total transaction of $14,764,900.00. Following the completion of the transaction, the insider owned 5,460,000 shares in the company, valued at approximately $19,710,600. The trade was a 42.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.07% of the company’s stock.

Institutional Trading of New Era Energy & Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of NUAI. BlackRock Inc. purchased a new stake in New Era Energy & Digital during the 2nd quarter worth about $45,986,000. State Street Corp raised its position in shares of 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 acquiring an additional 3,984,091 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of New Era Energy & Digital during the 2nd quarter worth about $10,927,000. First Trust Advisors LP raised its position in shares of 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 worth $6,555,000 after acquiring an additional 858,329 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in New Era Energy & Digital during the second quarter worth approximately $2,267,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

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.