New Era Helium (NASDAQ:NEHC) Shares Down 8.3% – Time to Sell?

New Era Helium Inc. (NASDAQ:NEHC) was down 8.3% during trading on Wednesday . The stock traded as low as $3.80 and last traded at $4.00. Approximately 7,559,101 shares were traded during mid-day trading, an increase of 765% from the average daily volume of 874,269 shares. The stock had previously closed at $4.36.

New Era Helium Trading Down 8.3%

The firm’s fifty day moving average is $4.21 and its 200 day moving average is $1.83. The company has a market cap of $57.90 million, a PE ratio of -9.76 and a beta of 0.19.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in New Era Helium in the 3rd quarter worth about $28,000. Shay Capital LLC raised its holdings in shares of New Era Helium by 114.1% during the third quarter. Shay Capital LLC now owns 188,930 shares of the company’s stock valued at $86,000 after acquiring an additional 100,692 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of New Era Helium during the second quarter valued at approximately $344,000. 21.90% of the stock is owned by hedge funds and other institutional investors.

About New Era Helium

New Era Helium, Inc is an exploration and production company that sources helium produced in association with the production of natural gas reserves in North America. The company was founded in 2023 and is headquartered in Midland, TX.