Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 7.3% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded up 7.3% on Tuesday . The company traded as high as $18.95 and last traded at $19.0210. 515,912 shares changed hands during trading, a decline of 77% from the average daily volume of 2,206,769 shares. The stock had previously closed at $17.72.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NNE shares. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Friday, July 17th. Truist Financial began coverage on Nano Nuclear Energy in a research note on Monday, July 13th. They set a “hold” rating and a $22.00 target price on the stock. Northland Securities set a $37.00 target price on Nano Nuclear Energy in a report on Friday, August 14th. Finally, New Street Research set a $45.00 price target on Nano Nuclear Energy in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Nano Nuclear Energy Trading Up 9.2%

The business’s 50 day moving average price is $18.18 and its two-hundred day moving average price is $22.20. The stock has a market cap of $1.04 billion, a P/E ratio of -27.99 and a beta of 5.41.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. As a group, analysts expect that Nano Nuclear Energy Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling at Nano Nuclear Energy

In other news, CEO James Walker sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total value of $444,250.00. Following the completion of the transaction, the chief executive officer owned 635,000 shares of the company’s stock, valued at approximately $11,283,950. This represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 18.61% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Nano Nuclear Energy by 275.7% in the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 863 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Nano Nuclear Energy in the 3rd quarter worth about $48,000. Ascentis Independent Advisors purchased a new position in Nano Nuclear Energy during the 1st quarter valued at about $36,000. Finally, NewEdge Advisors LLC lifted 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 valued at $51,000 after acquiring an additional 1,520 shares during the period.

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.