Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 7.3% – Here’s Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were up 7.3% during trading on Thursday . The company traded as high as $21.43 and last traded at $21.8930. Approximately 420,381 shares changed hands during trading, a decline of 77% from the average daily volume of 1,846,405 shares. The stock had previously closed at $20.40.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Texas Capital upgraded Nano Nuclear Energy to a “strong-buy” rating in a report on Tuesday, January 27th. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Nano Nuclear Energy Price Performance

The firm’s 50-day moving average price is $25.69 and its 200-day moving average price is $33.34. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -19.77 and a beta of 7.22.

Nano Nuclear Energy (NASDAQ:NNE) last posted its 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, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Insider Activity at Nano Nuclear Energy

In other news, CEO James John Walker sold 195,000 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total value of $6,637,800.00. Following the completion of the sale, the chief executive officer owned 250,000 shares of the company’s stock, valued at $8,510,000. This represents a 43.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane Elizabeth Hare sold 20,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $28.70, for a total value of $574,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,069,664 shares of company stock valued at $69,926,176 over the last 90 days. Corporate insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Nano Nuclear Energy by 185.2% during the first 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 period. AQR Capital Management LLC purchased a new position in shares of Nano Nuclear Energy in the first quarter valued at $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nano Nuclear Energy by 535.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock valued at $385,000 after purchasing an additional 12,256 shares in the last quarter. NewEdge Advisors LLC increased its stake in Nano Nuclear Energy by 385.8% during the 1st 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, Geode Capital Management LLC increased its stake in Nano Nuclear Energy by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 349,104 shares of the company’s stock worth $12,039,000 after buying an additional 20,899 shares during the period.

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.