New Era Energy & Digital (NASDAQ:NUAI) Shares Gap Up – Here’s Why

New Era Energy & Digital Inc (NASDAQ:NUAI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.41, but opened at $5.75. New Era Energy & Digital shares last traded at $5.7150, with a volume of 1,288,337 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Northland Securities set a $12.00 target price on New Era Energy & Digital in a research report on Tuesday, August 18th. B. Riley Financial initiated coverage on New Era Energy & Digital in a research report on Tuesday, July 7th. They set a “buy” rating and a $10.00 target price for the company. 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. Finally, New Street Research set a $10.00 price objective on shares of New Era Energy & Digital in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.67.

New Era Energy & Digital Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 14.21 and a quick ratio of 14.21. The company’s fifty day moving average price is $5.10 and its 200 day moving average price is $4.93. The company has a market cap of $619.65 million, a PE ratio of -5.91 and a beta of 1.24.

New Era Energy & Digital (NASDAQ:NUAI) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.21) EPS 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 during the quarter. On average, equities research analysts predict that New Era Energy & Digital Inc will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On New Era Energy & Digital

Several large investors have recently modified their holdings of NUAI. BlackRock Inc. purchased a new stake in New Era Energy & Digital in the 2nd quarter worth about $45,986,000. Alyeska Investment Group L.P. purchased a new stake in New Era Energy & Digital during the second quarter valued at about $10,927,000. First Trust Advisors LP boosted its position in New Era Energy & Digital by 113.5% during the first quarter. First Trust Advisors LP now owns 1,614,504 shares of the company’s stock worth $6,555,000 after purchasing an additional 858,329 shares during the period. UBS Group AG bought a new position in New Era Energy & Digital during the fourth quarter worth about $3,584,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of New Era Energy & Digital in the second quarter worth about $2,267,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

New Era Energy & Digital Company Profile

New Era Energy & Digital, Inc (NASDAQ: NUAI) is an energy and digital-infrastructure company focused on developing and operating assets that connect energy production with data-intensive computing. The company’s activities have included energy projects and digital infrastructure initiatives, including facilities intended to support data centers, high-performance computing and cryptocurrency mining.

The company was formerly known as New Era Helium, Inc, reflecting its earlier focus on helium-related opportunities.