New Era Helium (NASDAQ:NEHC) Trading 6.8% Higher – Should You Buy?

New Era Helium Inc. (NASDAQ:NEHC) shares traded up 6.8% during trading on Friday . The stock traded as high as $4.01 and last traded at $3.94. 3,974,228 shares traded hands during trading, an increase of 355% from the average session volume of 874,269 shares. The stock had previously closed at $3.69.

New Era Helium Stock Up 2.5%

The firm has a 50-day moving average price of $4.59 and a 200 day moving average price of $4.65. The firm has a market capitalization of $58.47 million, a PE ratio of -9.85 and a beta of 0.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NEHC. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of New Era Helium during the third quarter worth approximately $28,000. Shay Capital LLC increased its holdings in New Era Helium by 114.1% in the third quarter. Shay Capital LLC now owns 188,930 shares of the company’s stock valued at $86,000 after buying an additional 100,692 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in New Era Helium during the 2nd quarter worth about $344,000. 21.90% of the stock is currently owned by hedge funds and other institutional investors.

New Era Helium Company Profile

New Era Helium Inc (NASDAQ: NEHC) is a mineral exploration company focused on the identification, acquisition and development of helium-bearing properties. The company’s primary objective is to bring new sources of helium to market, addressing global shortages of this strategic gas used in sectors ranging from healthcare and electronics to aerospace and scientific research.

New Era Helium holds a portfolio of exploration licences and leases in North America and Europe, with a particular emphasis on underexplored basins known to host helium accumulations.