New Era Helium (NASDAQ:NEHC) Shares Up 2.2% – What’s Next?

Shares of New Era Helium Inc. (NASDAQ:NEHC) traded up 2.2% during mid-day trading on Wednesday . The company traded as high as $4.9150 and last traded at $4.85. Approximately 5,165,121 shares changed hands during trading, an increase of 491% from the average daily volume of 874,269 shares. The stock had previously closed at $4.7450.

New Era Helium Stock Up 2.5%

The stock’s 50-day moving average is $5.00 and its 200-day moving average is $4.87. The firm has a market cap of $76.28 million, a P/E ratio of -12.85 and a beta of 0.19.

Hedge Funds Weigh In On New Era Helium

An institutional investor recently raised its stake in New Era Helium stock. Shay Capital LLC grew its position in New Era Helium Inc. (NASDAQ:NEHC) by 114.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,930 shares of the company’s stock after acquiring an additional 100,692 shares during the period. Shay Capital LLC owned 1.31% of New Era Helium worth $86,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.90% of the company’s stock.

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.