Hedge funds cut NFLX, keep big bets on MSFT, AMZN, add NVDA
NEHC, a company that has been navigating a tumultuous market, saw its stock price touch a 52-week low of $0.69. With a market capitalization of just $10.2 million and an InvestingPro Financial Health Score of 0.42 (labeled as "WEAK"), the company faces significant challenges. This latest price point reflects a significant downturn for the company, which has experienced a staggering 1-year change with its stock value plummeting by -91.03%. Technical indicators from InvestingPro suggest the stock is in oversold territory, while fundamental analysis shows concerning cash burn rates and a current ratio of 0.65, indicating potential liquidity challenges. Investors are closely monitoring NEHC as it grapples with these factors, seeking signs of a potential turnaround or further indicators of long-term challenges ahead. InvestingPro analysis suggests the stock is currently fairly valued, with 13 additional key insights available to subscribers.
In other recent news, New Era Helium, Inc. has announced a joint venture with Sharon AI, Inc. to develop a 250MW net-zero energy data center in Ector County, Texas. The project, named Texas Critical Data Centers, LLC, involves acquiring 200 acres of land and is expected to go online in late 2026. The site will use Carbon Capture Utilization Storage technologies and plans to finalize a natural gas supply contract by the second quarter of 2025. This initiative aims to attract partners due to its access to low-cost and reliable power. Additionally, New Era Helium has revised its Equity Purchase Facility Agreement with an institutional investor. The amended agreement allows for the sale of up to $75 million of common stock and includes promissory notes totaling $10 million. Under the new terms, the purchase price per share is set at 95% of the market price, with specific conditions on how proceeds are to be used. This revision is intended to provide New Era Helium with greater financial flexibility.
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