New Era Energy & Digital (NASDAQ:NUAI) Stock Price Down 7.4% – Here’s What Happened

New Era Energy & Digital Inc (NASDAQ:NUAI)’s share price traded down 7.4% on Wednesday. The stock traded as low as $5.46 and last traded at $5.4250. Approximately 3,924,040 shares traded hands during trading, a decline of 41% from the average daily volume of 6,637,680 shares. The stock had previously closed at $5.86.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. New Street Research set a $10.00 price objective on New Era Energy & Digital in a research note on Tuesday, July 7th. B. Riley Financial boosted their price objective on shares of New Era Energy & Digital from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, September 29th. Weiss Ratings upgraded shares of New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Northland Securities set a $12.00 price target on New Era Energy & Digital in a research note on Tuesday, August 18th. Finally, Wall Street Zen cut New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.67.

New Era Energy & Digital Trading Down 7.4%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.21 and a current ratio of 14.21. The company has a 50 day simple moving average of $5.63 and a 200 day simple moving average of $5.10. The company has a market capitalization of $578.09 million, a PE ratio of -5.59 and a beta of 1.19.

New Era Energy & Digital (NASDAQ:NUAI) last released 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 net margin of 4,388.71% and a negative return on equity of 121.41%. The business had revenue of $0.04 million during the quarter. Analysts anticipate that New Era Energy & Digital Inc will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

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

New Era Energy & Digital Company Profile