New Era Helium (NASDAQ:NEHC) Shares Down 10.2% - Here's Why
New Era Helium (NASDAQ:NEHC) shares fell 10.2% to $5.21 during trading, with a significant increase in volume. The company has a market cap of $75.41 million and a PE ratio of -12.71. Institutional investors have recently adjusted their positions, with hedge funds owning 21.90% of the stock. New Era Helium focuses on helium exploration and development, addressing global shortages of this strategic gas. Analysts currently rate the stock as a Hold, but it is not among the top recommended stocks for investment.
New Era Helium Inc. (NASDAQ:NEHC - Get Free Report) fell 10.2% during trading on Friday . The company traded as low as $5.07 and last traded at $5.21. 5,434,081 shares changed hands during trading, an increase of 522% from the average session volume of 874,269 shares. The stock had previously closed at $5.80.
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New Era Helium Stock Down 10.2%
The firm has a market cap of $75.41 million, a PE ratio of -12.71 and a beta of 0.19. The firm's 50 day moving average is $4.64 and its 200-day moving average is $3.03.
Institutional Investors Weigh In On New Era Helium
Hedge funds and other institutional investors have recently made changes to their positions in the business. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in New Era Helium during the third quarter worth about $28,000. Shay Capital LLC grew its holdings in New Era Helium by 114.1% in the 3rd quarter. Shay Capital LLC now owns 188,930 shares of the company's stock valued at $86,000 after buying an additional 100,692 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in New Era Helium in the 2nd quarter valued at about $344,000. Hedge funds and other institutional investors own 21.90% of the company's stock.
About New Era Helium
(Get Free Report)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.
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