Nano Nuclear Energy (NASDAQ:NNE) Trading 1.7% Higher – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNEGet Free Report) shot up 1.7% during trading on Thursday . The stock traded as high as $19.49 and last traded at $19.29. Approximately 1,779,716 shares changed hands during trading, a decline of 23% from the average daily volume of 2,323,965 shares. The stock had previously closed at $18.96.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 24th. Roth Capital began coverage on shares of Nano Nuclear Energy in a report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Finally, Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Nano Nuclear Energy has an average rating of “Moderate Buy” and an average price target of $47.50.

Check Out Our Latest Stock Analysis on NNE

Nano Nuclear Energy Price Performance

The stock has a market cap of $982.23 million, a price-to-earnings ratio of -27.33 and a beta of 5.27. The company’s fifty day moving average price is $24.52 and its 200-day moving average price is $25.81.

Nano Nuclear Energy (NASDAQ:NNEGet Free Report) last released 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, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, CFO Jaisun Garcha sold 37,215 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the sale, the chief financial officer owned 345,000 shares in the company, valued at approximately $9,135,600. The trade was a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total value of $18,676,000.00. Following the completion of the transaction, the chairman directly owned 8,224,000 shares in the company, valued at $219,416,320. This represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 over the last 90 days. Insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Harbour Investments Inc. raised its position in Nano Nuclear Energy by 275.7% during 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 last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Nano Nuclear Energy by 165.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after acquiring an additional 835 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Nano Nuclear Energy in the 1st quarter valued at $36,000. US Bancorp DE increased its stake in shares of 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 acquiring an additional 400 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $48,000.

About Nano Nuclear Energy

(Get Free Report)

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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