New Era Energy & Digital (NASDAQ:NUAI) Major Shareholder Sells $14,764,900.00 in Stock

New Era Energy & Digital Inc (NASDAQ:NUAI) major shareholder Kent Mccarthy sold 4,090,000 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $3.61, for a total value of $14,764,900.00. Following the completion of the transaction, the insider directly owned 5,460,000 shares in the company, valued at $19,710,600. This represents a 42.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

New Era Energy & Digital Price Performance

Shares of NASDAQ:NUAI traded down $0.22 on Friday, reaching $3.11. 10,481,434 shares of the company traded hands, compared to its average volume of 6,864,434. New Era Energy & Digital Inc has a fifty-two week low of $2.01 and a fifty-two week high of $9.44. The company’s 50 day moving average is $5.55 and its 200-day moving average is $5.08. The stock has a market capitalization of $331.40 million, a PE ratio of -3.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.21 and a quick ratio of 14.21.

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 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, analysts anticipate that New Era Energy & Digital Inc will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen lowered New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Northland Securities set a $12.00 price target on New Era Energy & Digital in a research note on Tuesday, August 18th. B. Riley Financial boosted their price objective on New Era Energy & Digital from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. Roth Capital began coverage on shares of New Era Energy & Digital in a research note on Wednesday, October 7th. They set a “buy” rating and a $10.00 price objective for the company. Finally, New Street Research set a $10.00 target price on shares of New Era Energy & Digital in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Hedge Funds Weigh In On New Era Energy & Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in New Era Energy & Digital during the second quarter valued at $36,000. Legal & General Group Plc acquired a new stake in New Era Energy & Digital during the 2nd quarter worth about $50,000. State of Wyoming purchased a new stake in New Era Energy & Digital in the 2nd quarter worth approximately $51,000. Integrated Wealth Concepts LLC purchased a new stake in New Era Energy & Digital in the 2nd quarter worth approximately $64,000. Finally, Cetera Investment Advisers acquired a new stake in shares of New Era Energy & Digital during the 1st quarter valued at $70,000. 21.90% of the stock is currently owned by hedge funds and other institutional investors.

New Era Energy & Digital Company Profile