Nano Nuclear Energy (NASDAQ:NNE) Trading 5.4% Higher – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was up 5.4% during trading on Wednesday . The stock traded as high as $27.39 and last traded at $25.31. 4,719,597 shares were traded during mid-day trading, an increase of 110% from the average session volume of 2,249,933 shares. The stock had previously closed at $24.01.

Analyst Ratings Changes

Several analysts have commented on NNE shares. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Roth Mkm began coverage on shares of Nano Nuclear Energy in a research note on Wednesday. They set a “buy” rating and a $45.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Nano Nuclear Energy has an average rating of “Moderate Buy” and an average price target of $46.50.

Nano Nuclear Energy Price Performance

The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -40.88 and a beta of 5.05. The business’s 50-day simple moving average is $25.36 and its two-hundred day simple moving average is $27.19.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.08. As a group, sell-side analysts expect that Nano Nuclear Energy Inc. will post -1.02 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Jiang Yu sold 700,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the chairman directly owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James John Walker sold 123,688 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.49, for a total transaction of $3,276,495.12. Following the completion of the transaction, the chief executive officer directly owned 555,000 shares of the company’s stock, valued at approximately $14,701,950. The trade was a 18.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,616,981 shares of company stock valued at $43,096,346 over the last ninety days. Insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Nano Nuclear Energy by 11,676.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after acquiring an additional 1,711,592 shares in the last quarter. Weiss Asset Management LP bought a new position in Nano Nuclear Energy during the 4th quarter worth $38,224,000. Ghisallo Capital Management LLC acquired a new position in shares of Nano Nuclear Energy during the fourth quarter valued at $38,224,000. Van ECK Associates Corp boosted its stake in Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after purchasing an additional 1,030,262 shares during the period. Finally, Regal Partners Ltd acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $23,535,000.

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.