Nano Nuclear Energy (NASDAQ:NNE) Shares Up 8.6% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 8.6% on Friday . The stock traded as high as $35.55 and last traded at $36.2520. Approximately 723,369 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 2,008,639 shares. The stock had previously closed at $33.38.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nano Nuclear Energy currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Trading Up 7.9%

The business has a fifty day moving average of $32.19 and a two-hundred day moving average of $36.31. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -34.75 and a beta of 7.48.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.14. On average, research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Nano Nuclear Energy news, CEO James John Walker sold 25,000 shares of Nano Nuclear Energy stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of $30.12, for a total transaction of $753,000.00. Following the sale, the chief executive officer owned 275,000 shares of the company’s stock, valued at $8,283,000. The trade was a 8.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kenny Joe Yung Yu sold 40,000 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $32.43, for a total transaction of $1,297,200.00. Following the completion of the sale, the director owned 15,000 shares of the company’s stock, valued at $486,450. This trade represents a 72.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,936,000 shares of company stock worth $56,375,077 in the last ninety days. Company insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of Nano Nuclear Energy by 185.2% in the 1st quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock valued at $560,000 after purchasing an additional 13,730 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Nano Nuclear Energy in the 1st quarter valued at about $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nano Nuclear Energy by 535.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock valued at $385,000 after buying an additional 12,256 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after buying an additional 1,520 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Nano Nuclear Energy by 376.9% during the first quarter. Rhumbline Advisers now owns 29,628 shares of the company’s stock valued at $784,000 after acquiring an additional 23,416 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.