Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 9.7% – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded up 9.7% during trading on Wednesday . The stock traded as high as $26.44 and last traded at $26.0880. 939,848 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,919,969 shares. The stock had previously closed at $23.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Benchmark reaffirmed 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 report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nano Nuclear Energy has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Price Performance

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -24.56 and a beta of 7.25. The business has a fifty day moving average of $23.45 and a 200 day moving average of $31.50.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.19. On average, equities research analysts expect that Nano Nuclear Energy Inc. will post -1.4 EPS for the current year.

Insider Transactions at Nano Nuclear Energy

In related news, Chairman Jiang Yu sold 766,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $34.14, for a total value of $26,173,806.54. Following the transaction, the chairman directly owned 8,724,000 shares in the company, valued at approximately $297,837,360. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jaisun Garcha sold 75,000 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total value of $2,553,000.00. Following the transaction, the chief financial officer owned 250,000 shares in the company, valued at $8,510,000. This trade represents a 23.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,049,664 shares of company stock valued at $69,352,176 in the last ninety days. 32.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its stake in Nano Nuclear Energy by 275.7% during the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 863 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Nano Nuclear Energy by 165.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after purchasing an additional 835 shares in the last quarter. Archer Investment Corp acquired a new position in Nano Nuclear Energy during the third quarter worth $39,000. Tripletail Wealth Management LLC acquired a new position in Nano Nuclear Energy during the third quarter worth $43,000. Finally, US Bancorp DE lifted its stake in Nano Nuclear Energy by 51.9% during the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares in 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.