New Era Helium (NASDAQ:NEHC) Trading 1.1% Higher – Time to Buy?

New Era Helium Inc. (NASDAQ:NEHC) shares traded up 1.1% on Tuesday . The stock traded as high as $5.06 and last traded at $4.9050. 5,770,180 shares were traded during mid-day trading, an increase of 560% from the average session volume of 874,269 shares. The stock had previously closed at $4.85.

New Era Helium Stock Performance

The firm has a market capitalization of $70.99 million, a P/E ratio of -11.96 and a beta of 0.19. The stock has a 50 day moving average of $4.55 and a 200-day moving average of $4.65.

Institutional Trading of New Era Helium

Institutional investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. bought a new position in New Era Helium in the 2nd quarter worth approximately $344,000. Shay Capital LLC raised its holdings in New Era Helium by 114.1% during the 3rd 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 period. Finally, W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in New Era Helium during the 3rd quarter valued at $28,000. 21.90% of the stock is currently owned by hedge funds and other institutional investors.

New Era Helium Company Profile

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.