New Era Energy & Digital (NASDAQ:NUAI) Stock Falls 7.4% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NUAI shares. Wall Street Zen cut New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. B. Riley Financial increased their price objective on New Era Energy & Digital from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. New Street Research set a $10.00 target price on New Era Energy & Digital in a research note on Tuesday, July 7th. Northland Securities set a $12.00 target price on New Era Energy & Digital in a research report on Tuesday, August 18th. Finally, Roth Capital initiated coverage on New Era Energy & Digital in a report on Wednesday. They issued a “buy” rating and a $10.00 price target on the stock. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.25.

New Era Energy & Digital Stock Down 2.4%

The company has a market cap of $502.43 million, a price-to-earnings ratio of -4.81 and a beta of 1.19. The company has a current ratio of 14.21, a quick ratio of 14.21 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $5.66 and its 200-day moving average price is $5.10.

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 business had revenue of $0.04 million for the quarter. New Era Energy & Digital had a negative net margin of 4,388.71% and a negative return on equity of 121.41%. Sell-side analysts predict that New Era Energy & Digital Inc will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On New Era Energy & Digital

A number of large investors have recently bought and sold shares of the company. State Street Corp grew its position in New Era Energy & Digital by 2,040.0% in the second quarter. State Street Corp now owns 4,179,391 shares of the company’s stock valued at $26,665,000 after purchasing an additional 3,984,091 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in New Era Energy & Digital during the 2nd quarter worth about $2,267,000. WINTON GROUP Ltd acquired a new position in shares of New Era Energy & Digital during the 2nd quarter worth about $117,000. Integrated Wealth Concepts LLC bought a new position in shares of New Era Energy & Digital in the 2nd quarter valued at about $64,000. Finally, FirstWave Capital Management LLC bought a new position in shares of New Era Energy & Digital in the 2nd quarter valued at about $1,608,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

About New Era Energy & Digital