Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 7.7% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price rose 7.7% on Tuesday. The company traded as high as $16.69 and last traded at $16.7120. 743,012 shares were traded during trading, a decline of 66% from the average session volume of 2,182,874 shares. The stock had previously closed at $15.51.

Analyst Ratings Changes

A number of research analysts recently issued reports on NNE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Friday, July 17th. Susquehanna set a $39.00 target price on Nano Nuclear Energy in a research note on Thursday. Roth Capital assumed coverage on Nano Nuclear Energy in a report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Alliance Global Partners initiated coverage on Nano Nuclear Energy in a research note on Monday, July 27th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, Truist Financial began coverage on Nano Nuclear Energy in a report on Monday, July 13th. They set a “hold” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.14.

Nano Nuclear Energy Stock Performance

The firm has a market cap of $898.51 million, a P/E ratio of -24.30 and a beta of 5.49. The company’s 50 day moving average is $17.52 and its 200 day moving average is $21.03.

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

Insider Buying and Selling at Nano Nuclear Energy

In other news, CEO James Walker sold 25,000 shares of the company’s 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 $11,283,950. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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

Several hedge funds have recently added to or reduced their stakes in NNE. Harbour Investments Inc. increased its position in Nano Nuclear Energy by 275.7% in the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 863 shares during the period. Ascentis Independent Advisors bought a new position in shares of Nano Nuclear Energy during the first quarter valued at $36,000. State of Wyoming acquired a new position in shares of Nano Nuclear Energy during the second quarter worth $45,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Nano Nuclear Energy in the second quarter worth $55,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Nano Nuclear Energy in the second quarter worth $68,000.

About Nano Nuclear Energy

Nano Nuclear Energy, Inc is an advanced nuclear energy technology company developing portable microreactors and related nuclear-fuel capabilities. The company’s objective is to provide compact, transportable power systems for applications that may not be well served by conventional nuclear plants or electrical grids.

Its principal reactor concepts include ZEUS, a solid-core battery reactor designed for off-grid power generation, and ODIN, a molten-salt reactor concept intended to produce electricity and industrial heat.