Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $26.73, but opened at $29.07. Nano Nuclear Energy shares last traded at $28.85, with a volume of 1,336,877 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Texas Capital upgraded Nano Nuclear Energy to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Price Performance

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -43.67 and a beta of 5.15. The company has a fifty day moving average price of $23.55 and a two-hundred day moving average price of $28.15.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. On average, research analysts expect that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,664 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $27.69, for a total transaction of $101,456.16. Following the sale, the director owned 3,836 shares in the company, valued at approximately $106,218.84. The trade was a 48.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Nano Nuclear Energy by 185.2% during the first quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock valued at $560,000 after acquiring an additional 13,730 shares during the period. AQR Capital Management LLC acquired a new position in Nano Nuclear Energy in the 1st quarter worth approximately $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Nano Nuclear Energy by 535.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock worth $385,000 after purchasing an additional 12,256 shares in the last quarter. NewEdge Advisors LLC grew its position in Nano Nuclear Energy by 385.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Creative Planning acquired a new stake in Nano Nuclear Energy during the 2nd quarter valued at $316,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.