Nano Nuclear Energy Inc. (NASDAQ:NNE) Short Interest Update

Nano Nuclear Energy Inc. (NASDAQ:NNE) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 8,423,275 shares, a decrease of 37.1% from the March 15th total of 13,385,881 shares. Currently, 24.1% of the shares of the company are sold short. Based on an average daily volume of 2,298,090 shares, the days-to-cover ratio is presently 3.7 days.

Nano Nuclear Energy Stock Down 4.2%

NASDAQ:NNE traded down $1.02 during trading hours on Thursday, hitting $23.28. 1,220,723 shares of the company’s stock traded hands, compared to its average volume of 1,900,885. Nano Nuclear Energy has a 52 week low of $17.26 and a 52 week high of $60.87. The business’s fifty day simple moving average is $23.66 and its two-hundred day simple moving average is $32.00. The firm has a market cap of $1.21 billion, a P/E ratio of -21.67 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.19. On average, analysts expect that Nano Nuclear Energy will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

NNE has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Thursday, January 22nd. Finally, Texas Capital raised shares of Nano Nuclear Energy to a “strong-buy” rating in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Insider Activity

In related news, major shareholder I Financial Ventures Group Llc sold 766,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the sale, the insider directly owned 8,724,000 shares in the company, valued at approximately $297,837,360. This represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Jiang Yu sold 766,661 shares of Nano Nuclear Energy stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the completion of the transaction, the chairman owned 8,724,000 shares of the company’s stock, valued at $297,837,360. This represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,049,664 shares of company stock valued at $69,352,176. 32.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in shares of Nano Nuclear Energy by 64.0% during the third quarter. Exchange Traded Concepts LLC now owns 298,163 shares of the company’s stock worth $11,497,000 after acquiring an additional 116,387 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nano Nuclear Energy by 441.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock valued at $2,854,000 after purchasing an additional 60,336 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Nano Nuclear Energy by 549.0% during the 3rd quarter. SG Americas Securities LLC now owns 33,408 shares of the company’s stock valued at $1,288,000 after purchasing an additional 28,260 shares during the last quarter. Van ECK Associates Corp raised its position 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 purchasing an additional 1,030,262 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Nano Nuclear Energy by 40.9% in the third quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock worth $68,547,000 after purchasing an additional 516,129 shares during the last quarter.

About Nano Nuclear Energy

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.