Nano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $22.30, but opened at $23.40. Nano Nuclear Energy shares last traded at $23.3060, with a volume of 386,906 shares changing hands.
Key Headlines Impacting Nano Nuclear Energy
Here are the key news stories impacting Nano Nuclear Energy this week:
- Positive Sentiment: The NRC’s acceptance of the KRONOS MMR construction permit application is a meaningful de-risking event and improves the outlook for potential commercialization and deployment. NANO Nuclear’s KRONOS MMR™ and the University of Illinois Urbana-Champaign Advance to Next Regulatory Milestone…
- Positive Sentiment: Northland Securities raised multiple near- and medium-term EPS estimates, signaling improved expectations for the company’s financial trajectory. Nano Nuclear Energy Inc. analyst estimate update
- Neutral Sentiment: Coverage pieces discussing a “new deal” and the broader thesis around powering data centers and industrial customers reinforce the growth story, but do not appear to include a new operational announcement beyond the regulatory update. Does Nano Nuclear Energy’s New Deal Amp the Outlook?
- Negative Sentiment: Broader nuclear/uranium stocks have been under pressure recently, suggesting sector sentiment remains choppy and could temper gains in NNE. The nuclear trade goes cold
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Texas Capital raised Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.
Nano Nuclear Energy Price Performance
The firm has a market cap of $1.27 billion, a PE ratio of -35.21 and a beta of 5.15. The firm has a 50-day simple moving average of $23.42 and a 200 day simple moving average of $28.70.
Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.08. Sell-side analysts forecast that Nano Nuclear Energy Inc. will post -1.25 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Seth Jason Berl sold 3,664 shares of Nano Nuclear Energy stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $27.69, for a total value of $101,456.16. Following the completion of the transaction, the director owned 3,836 shares of the company’s stock, valued at $106,218.84. The trade was a 48.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.77% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Nano Nuclear Energy
Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Nano Nuclear Energy by 24.7% in the 4th quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock worth $77,825,000 after purchasing an additional 643,070 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 486,367 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock worth $66,564,000 after purchasing an additional 1,711,592 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth about $38,224,000. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth about $38,224,000.
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.
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