New Era Energy & Digital (NASDAQ:NUAI) Stock Gets Price Target Cut from B. Riley Financial

New Era Energy & Digital (NASDAQ:NUAI) had its target price trimmed by B. Riley Financial from $13.00 to $10.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. New Street Research set a $10.00 price target on New Era Energy & Digital in a research report on Tuesday, July 7th. Roth Capital initiated coverage on shares of New Era Energy & Digital in a research report on Wednesday, October 7th. They set a “buy” rating and a $10.00 target price on the stock. Northland Securities set a $12.00 price target on shares of New Era Energy & Digital in a report on Tuesday, August 18th. Weiss Ratings upgraded New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Finally, Wall Street Zen cut New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

New Era Energy & Digital Stock Performance

NASDAQ:NUAI opened at $2.73 on Friday. The firm has a market cap of $290.91 million, a price-to-earnings ratio of -2.79 and a beta of 1.30. The firm’s fifty day moving average price is $5.04 and its 200 day moving average price is $5.02. New Era Energy & Digital has a 1-year low of $2.01 and a 1-year high of $9.44. 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 issued its quarterly earnings data on Friday, August 14th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). New Era Energy & Digital had a negative return on equity of 121.41% and a negative net margin of 4,388.71%. The company had revenue of $0.04 million for the quarter. On average, sell-side analysts expect that New Era Energy & Digital will post -0.58 EPS for the current year.

Insider Activity

In other news, major shareholder Kent C. Mccarthy sold 4,090,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 5,460,000 shares of the company’s stock, valued at $19,710,600. This represents a 42.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of New Era Energy & Digital during the second quarter valued at approximately $36,000. Legal & General Group Plc purchased a new stake in shares of New Era Energy & Digital during the 2nd quarter worth $50,000. State of Wyoming acquired a new position in shares of New Era Energy & Digital in the second quarter valued at about $51,000. Integrated Wealth Concepts LLC purchased a new position in shares of New Era Energy & Digital during the 2nd quarter valued at approximately $64,000. Finally, Cetera Investment Advisers purchased a new stake in shares of New Era Energy & Digital in the first quarter valued at about $70,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

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.