New Era Energy & Digital, Inc.
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
Red, because several documented threats to the company itself come together: the 10-K for 2025 carried substantial doubt about the company's ability to continue as a going concern, lifted only through new stock and new loans; operations keep burning cash, and after pledging $58.3 million as collateral, free cash on paper does not cover the $25 million to $30 million of annual needs. Under the clause described in the 10-Q for June 30, 2026, the lender may require early repayment or installments without a lease — $80 million has been drawn since; whether the agreement as amended in October changes this, or whether a waiver was granted, had not been disclosed through October 14, 2026. The withdrawn quarterly report together with ineffective controls is a break in financial reporting. The land and the power contract are real assets, and a lease could change the picture quickly — but the rating judges the company as it stands today, not the hope. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
In one year, New Era Energy & Digital turned a small gas producer into a data center developer with its own site, a power contract and bank financing. It paid for that with a more than eightfold increase in its share count, and the decisive piece is still missing: a tenant. Most of its cash is pledged as collateral, under a loan clause the lender could demand repayment, and a quarterly report had to be restated. Not investment advice.
Substance
Owned site in Ector County (land $80.4 million on June 30, 2026) and a 20-year power purchase agreement with Luminant for at least 200 megawatts (signed September 18, 2026).
Business
No tenant, no data center revenue; 2025 revenue of $0.89 million from natural gas and NGLs only, never from helium; 5 employees (March 11, 2026).
Liquidity
$58.3 million of own cash pledged as collateral in October 2026, against $69.8 million of unrestricted cash on June 30, 2026 and $25–30 million of annual needs; operating cash burn in H1 2026: $10.9 million.
Debt
$80 million drawn from Macquarie (October 7, 2026); under the clause described in the 10-Q for June 30, 2026, the lender may require repayment without a lease within six months; whether the amended agreement changes this or a waiver was granted had not been disclosed through October 14, 2026.
Dilution
Shares outstanding from 13.0 million (December 31, 2024) to 106.6 million (August 10, 2026); ATM program of up to $100 million since September 24, 2026.
Reporting quality
Quarterly report for March 31, 2026 withdrawn under Item 4.02 (July 30, 2026), internal controls not effective, class action pending since April 1, 2026.
Worth Noting
The hook was our in-house Reddit hype scanner: 3 mentions in 24 hours, rank 190 (ApeWisdom, as of October 15, 2026).
Name history: Roth CH Acquisition V Co. (SPAC, 2020) → Roth CH V Holdings, Inc. (Nevada, formed June 2024, merger December 2024) → New Era Helium, Inc. → New Era Energy & Digital, Inc. (2025); under SEC identifier CIK 0002028336 since Roth CH V Holdings (2024), while the original SPAC had a separate registration.
Some market value figures are based on 120.8 million shares, an illustration from the September 24, 2026 prospectus supplement for a fully used ATM program. We use 106,559,339 shares from the 10-Q cover (as of August 10, 2026).
Reviewed: 10-K for 2025 and 2024, 10-Q for June 30, 2026 and March 31, 2026 including the restatement, and all filings through October 14, 2026. The 10-Q for September 30, 2026 was not yet available at publication; whether any ATM sales took place is open.
Stock Watch
This analysis is as of October 15, 2026. Stock Watch will tell you what's changed at NUAI since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 1.60 $ to 8.10 $ · Last price: 3.20 $ (As of: November 13, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 11/14/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Infrastructure
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| New Era Energy & Digital, Inc. NUAI | 0.3 | – | 0.0 | 100.0 | -45,569.6 | 66.2 | -24.4 |
| Microsoft Corporation MSFT | 3,823.1 | 32.4 | 17.6 | 67.7 | 46.3 | 14.9 | 5.0 |
| Palantir Technologies Inc. PLTR | 412.4 | 181.2 | 112.1 | 84.7 | 46.2 | 56.2 | -2.4 |
| Oracle Corporation ORCL | 362.5 | 20.9 | 12.9 | 64.0 | 36.2 | 17.4 | -41.6 |
| Palo Alto Networks Inc PANW | 262.6 | 254.7 | 184.2 | 70.4 | -2.5 | 14.9 | 57.4 |
| Crowdstrike Holdings Inc CRWD | 228.9 | – | 514.6 | 75.2 | -2.2 | 21.7 | 71.1 |
| Cloudflare Inc NET | 105.4 | – | 3,416.2 | 71.9 | -9.7 | 29.9 | 43.2 |
| Fortinet Inc FTNT | 91.6 | 44.7 | 28.1 | 79.8 | 31.3 | 14.2 | 57.0 |
| Synopsys Inc SNPS | 87.2 | 91.2 | 25.9 | 82.9 | 10.4 | 15.1 | 15.6 |
| Median of companies shown | 228.9 | 68.0 | 28.1 | 75.2 | 10.4 | 17.4 | 15.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2023 | 1 | 0 | 0 | 0.00 | -3 | 1 | 7 |
| 2024 | 1 | -13 | -14 | -1.06 | -5 | -2 | 9 |
| 2025 | 1 | -12 | -30 | -1.04 | -12 | -3 | 14 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2025: Q1 | -0.24 | -873.60 | 0 | -0.80 | -1,017.10 | -3 | -4 |
| 2025: Q2 | -0.21 | -45.90 | 0 | 926.20 | -1,724.40 | -2 | -2 |
| 2025: Q3 | -0.20 | -136.40 | 0 | 353.60 | -3,627.80 | -3 | -3 |
| 2025: Q4 | -0.32 | 61.90 | 0 | 28.60 | -8,862.70 | -5 | -5 |
| 2026: Q1 | -0.16 | 33.20 | 1 | 145.80 | -1,120.70 | -6 | -8 |
| 2026: Q2 | -0.18 | 15.60 | 0 | -82.50 | -56,011.80 | -5 | -8 |
| 2026: Q3 | -0.15 | 23.50 | 0 | -50.00 | -16,600.00 | -8 | -8 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.49 | -0.49 – -0.49 | 1 | – | 1 |
| 12/31/2027 | -0.26 | -1.07 – 0.55 | 9 | 46.9% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 15.10.2026 gegen die Geschäftsberichte (10-K) für 2025 (eingereicht 12.03.2026) und 2024 (31.03.2025) sowie die Quartalsberichte (10-Q) zum 30.06.2026, zum 31.03.2026 samt Neudarstellung (10-Q/A) und zum 30.09.2025: New Era Energy & Digital (früher New Era Helium) richtet sein ganzes Geschäftsmodell auf Rechenzentren für KI-Großkunden aus, verkauft aber keine KI und erzielt damit keinen Umsatz — das Gelände Texas Critical Data Centers ist laut 10-Q noch in der Entwicklung, der gesamte Umsatz stammt aus Erdgas und Flüssiggas. Einen eigenen operativen KI-Einsatz belegen die Berichte nicht, und KI ist kein Risiko für das eigene Modell, sondern dessen Zielmarkt. Nach dem Kriterienkatalog bleibt damit „neutral“; mit dem ersten Mietumsatz aus KI-Rechenzentren wäre „verkauft“ neu zu prüfen.
View the full file — quotes, sources, reviewed filings
„We are a vertically-integrated developer and operator of next-generation digital infrastructure and integrated power assets accelerating speed-to-power for advanced artificial intelligence (“AI”) hyperscalers."
Wir sind ein vertikal integrierter Entwickler und Betreiber von digitaler Infrastruktur der nächsten Generation und integrierten Energieanlagen, der für fortgeschrittene Anbieter künstlicher Intelligenz (KI) mit sehr großem Rechenbedarf (Hyperscaler) den schnellen Zugang zu Strom beschleunigt.
10-K · 2026-03-12 · View SEC filing
„During the periods, TCDC remained in the development stage and had not yet commenced revenue-generating operations."
In den Berichtszeiträumen befand sich TCDC weiterhin in der Entwicklungsphase und hatte noch keinen umsatzerzielenden Betrieb aufgenommen.
10-Q · 2026-08-14 · View SEC filing
Filings Reviewed: 10-Q 2026-08-14 · 10-Q/A 2026-08-14 · 10-Q 2026-05-15 · 10-Q 2025-11-13 · 10-K 2026-03-12 · 10-K 2025-03-31
Rated on October 15, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years no data
- More than 10% revenue growth is expected for the coming year -32.2%
- Share count grows by less than 3% a year no data
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -1,455.5%
- Gross margin at 40% or higher and without meaningful erosion -141.6%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 1 m net cash
- Operating cash flow covers the profits of the last three years 24 m
- Return on capital at 15% or higher, or up versus two years ago -128.1%
- Insiders hold at least 10% or are net buyers 28.4%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
4/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% –
- Exp. sales growth 3Y > 5% 214.4%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 214.4%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight –
- Max. EBIT decline < 50% –
- Return on equity > 15% –
- ROCE > 15% -128.1%
- Expected return > 10% 201.9%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Oct 30, 2026 | Warner Ted Grogan | President and CFO | Other | 610,673 | 0.00 | – |
| Oct 14, 2026 | Mccarthy Kent C | 10% Owner | Sell | 4,090,000 | 3.61 | 14,765,718 |
| Oct 14, 2026 | Mccarthy Kent C | 10% Owner | Sell | 200,000 | 3.91 | 781,700 |
| Oct 9, 2026 | Mccarthy Kent C | 10% Owner | Buy | 250,000 | 4.77 | 1,192,350 |
| Jul 6, 2026 | Rodriguez Jose Reynaldo | Chief Operating Officer | Other | 550,000 | 0.00 | – |
| Jul 1, 2026 | Sestak Ondrej | Director | Other | 38,780 | 0.00 | – |
| Jul 1, 2026 | Lee Peter John | Director | Other | 39,126 | 0.00 | – |
| Jul 1, 2026 | Yang Trent | Director | Other | 41,550 | 0.00 | – |
| Mar 16, 2026 | Warner Ted Grogan | President and CFO | Other | 610,673 | 0.00 | – |
| Feb 9, 2026 | Nelson Charles Lawrence | Chief Executive Officer | Other | 31,564 | 0.00 | – |
The company
About the Company
New Era Energy & Digital, Inc. (formerly New Era Helium, Inc.; originally the SPAC Roth CH Acquisition V Co.) develops Texas Critical Data Centers, a 493-acre data center campus in Ector County, Texas, intended for AI hyperscale tenants, and still operates legacy natural gas and NGL wells in Chaves County, New Mexico. Headquartered in Midland, Texas.
- Employees
- 5
- Headquarters
- Midland, TX
- Address
- 200 N. Loraine Street, 79701 Midland, United States
- Phone
- 432 695 6997
- Website
- newerainfra.ai
- IPO Date
- 12/09/2024
- ISIN
- US64428N1090
Management
| Name | Title | Birth Year |
|---|---|---|
| Everett Willard Gray II | President of Permian | 1976 |
| Charles Nelson | CEO & Chairman | 1989 |
| Jose Rodriguez | Chief Operating Officer | 1976 |
| Darin Rovell | Chief Accounting Officer | 1988 |
| Michael Johnson | General Counsel & Chief Compliance Officer | – |
| Andrew Casazza | Chief Corporate Officer | 1968 |
| Evan Pierce | Chief Development Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 11/12/2026 New ERA Energy & Digital, Inc. (NUAI): Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 10/29/2026 New ERA Energy & Digital, Inc. (NUAI): Entry into a Material Definitive Agreement; Unregistered Sales of Equity Securities; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 10/08/2026 New ERA Energy & Digital, Inc. (NUAI): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Unregistered Sales of Equity Securities; Other Events SEC ↗
- 09/24/2026 New ERA Energy & Digital, Inc. (NUAI): Entry into a Material Definitive Agreement; Other Events; Financial Statements and Exhibits SEC ↗
- 09/21/2026 New ERA Energy & Digital, Inc. (NUAI): Entry into a Material Definitive Agreement; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 08/17/2026 New ERA Energy & Digital, Inc. (NUAI): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: November 13, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.