Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped up prior to trading on Monday . The stock had previously closed at $19.87, but opened at $21.05. Nano Nuclear Energy shares last traded at $20.83, with a volume of 633,330 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday. Roth Mkm assumed coverage on Nano Nuclear Energy in a report on Wednesday, June 17th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.50.

Nano Nuclear Energy Stock Down 0.8%

The firm has a 50 day moving average price of $25.35 and a two-hundred day moving average price of $26.52. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -30.64 and a beta of 5.05.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.08. Analysts predict that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current year.

Insider Activity at Nano Nuclear Energy

In related news, CFO Jaisun Garcha sold 37,215 shares of Nano Nuclear Energy stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.92, for a total transaction of $93,450.00. Following the completion of the sale, the director directly owned 7,586 shares in the company, valued at $189,043.12. This represents a 33.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,616,981 shares of company stock worth $43,096,346. 32.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

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