New Era Energy & Digital Target of Unusually High Options Trading (NASDAQ:NUAI)

New Era Energy & Digital Inc (NASDAQ:NUAI) was the recipient of some unusual options trading on Monday. Traders purchased 18,106 put options on the company. This is an increase of approximately 15% compared to the typical daily volume of 15,711 put options.

Analysts Set New Price Targets

Several research firms have weighed in on NUAI. B. Riley Financial started coverage on New Era Energy & Digital in a research report on Tuesday, July 7th. They set a “buy” rating and a $10.00 price target for the company. New Street Research set a $10.00 price objective on New Era Energy & Digital in a research report on Tuesday, July 7th. Northland Securities set a $12.00 price objective on New Era Energy & Digital in a research note on Tuesday, August 18th. Weiss Ratings upgraded New Era Energy & Digital from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. Finally, Wall Street Zen downgraded shares of New Era Energy & Digital from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, New Era Energy & Digital has an average rating of “Moderate Buy” and a consensus target price of $10.67.

Hedge Funds Weigh In On New Era Energy & Digital

Hedge funds and other institutional investors have recently modified their holdings of the company. BlueCrest Capital Management Ltd acquired a new stake in New Era Energy & Digital during the 2nd quarter worth approximately $2,267,000. WINTON GROUP Ltd acquired a new position in New Era Energy & Digital during the second quarter valued at approximately $117,000. Integrated Wealth Concepts LLC acquired a new position in New Era Energy & Digital during the second quarter valued at approximately $64,000. FirstWave Capital Management LLC purchased a new stake in New Era Energy & Digital during the second quarter worth approximately $1,608,000. Finally, Concurrent Investment Advisors LLC grew its stake in New Era Energy & Digital by 42.3% during the second quarter. Concurrent Investment Advisors LLC now owns 59,697 shares of the company’s stock worth $381,000 after buying an additional 17,740 shares during the period. 21.90% of the stock is owned by institutional investors and hedge funds.

New Era Energy & Digital Trading Up 32.1%

Shares of NUAI traded up $1.88 during trading hours on Monday, hitting $7.74. The stock had a trading volume of 11,660,826 shares, compared to its average volume of 6,448,593. 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 firm has a market cap of $824.66 million, a P/E ratio of -7.89 and a beta of 1.24. The company’s fifty day simple moving average is $5.15 and its 200 day simple moving average is $4.95. New Era Energy & Digital has a 12-month low of $0.57 and a 12-month high of $9.44.

New Era Energy & Digital (NASDAQ:NUAI) last issued its earnings results on Friday, August 14th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The firm had revenue of $0.04 million during the quarter. New Era Energy & Digital had a negative net margin of 4,388.71% and a negative return on equity of 121.41%. Equities research analysts forecast that New Era Energy & Digital will post -0.5 EPS for the current fiscal year.

New Era Energy & Digital Company Profile

New Era Energy & Digital, Inc (NASDAQ: NUAI) is an energy and digital-infrastructure company focused on developing and operating assets that connect energy production with data-intensive computing. The company’s activities have included energy projects and digital infrastructure initiatives, including facilities intended to support data centers, high-performance computing and cryptocurrency mining.

The company was formerly known as New Era Helium, Inc, reflecting its earlier focus on helium-related opportunities.