New Era Energy & Digital (NASDAQ:NUAI) Major Shareholder Kent Mccarthy Purchases 250,000 Shares of Stock

New Era Energy & Digital Inc (NASDAQ:NUAI) major shareholder Kent Mccarthy bought 250,000 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were bought at an average cost of $4.77 per share, with a total value of $1,192,500.00. Following the completion of the purchase, the insider directly owned 9,550,000 shares in the company, valued at $45,553,500. This represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

New Era Energy & Digital Price Performance

Shares of NASDAQ NUAI opened at $3.41 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.21 and a quick ratio of 14.21. The company has a market cap of $363.37 million, a price-to-earnings ratio of -3.48 and a beta of 1.19. The stock’s 50-day moving average is $5.59 and its two-hundred day moving average is $5.09. New Era Energy & Digital Inc has a 1-year low of $2.01 and a 1-year high of $9.44.

New Era Energy & Digital (NASDAQ:NUAI) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $0.04 million during the quarter. Analysts forecast that New Era Energy & Digital Inc will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NUAI. Northland Securities set a $12.00 price target on shares of New Era Energy & Digital in a research note on Tuesday, August 18th. Roth Capital initiated coverage on shares of New Era Energy & Digital in a report on Wednesday, October 7th. They set a “buy” rating and a $10.00 price target for the company. Wall Street Zen downgraded shares of New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Finally, New Street Research set a $10.00 price objective on shares of New Era Energy & Digital in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.25.

About New Era Energy & Digital