Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 5.4% – Here’s Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded up 5.4% during mid-day trading on Wednesday . The stock traded as high as $27.39 and last traded at $25.31. 4,719,597 shares traded hands during mid-day trading, an increase of 110% from the average session volume of 2,249,933 shares. The stock had previously closed at $24.01.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Roth Mkm assumed coverage on Nano Nuclear Energy in a report on Wednesday. They set a “buy” rating and a $45.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Nano Nuclear Energy Stock Performance

The firm has a fifty day moving average price of $25.12 and a two-hundred day moving average price of $27.26. The stock has a market capitalization of $1.32 billion, a P/E ratio of -36.68 and a beta of 5.06.

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

Insider Buying and Selling

In related news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total value of $18,676,000.00. Following the transaction, the insider directly owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jaisun Garcha sold 37,215 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total value of $985,453.20. Following the completion of the transaction, the chief financial officer directly owned 345,000 shares in the company, valued at approximately $9,135,600. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,616,981 shares of company stock worth $43,096,346 in the last quarter. Company insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after buying an additional 486,367 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Nano Nuclear Energy by 441.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock worth $2,854,000 after buying an additional 60,336 shares in the last quarter. Van ECK Associates Corp increased its stake in Nano Nuclear Energy by 65.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after buying an additional 1,030,262 shares in the last quarter. UBS Group AG increased its stake in Nano Nuclear Energy by 135.7% in the 4th quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after buying an additional 666,722 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Nano Nuclear Energy by 16.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 346,123 shares of the company’s stock worth $8,310,000 after buying an additional 47,960 shares in the last quarter.

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.