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

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped up prior to trading on Tuesday . The stock had previously closed at $21.87, but opened at $23.33. Nano Nuclear Energy shares last traded at $24.1540, with a volume of 928,492 shares trading hands.

Analyst Ratings Changes

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

Nano Nuclear Energy Stock Performance

The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -22.49 and a beta of 7.25. The company has a 50-day moving average price of $23.66 and a 200-day moving average price of $32.00.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.19. As a group, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James John Walker sold 195,000 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total transaction of $6,637,800.00. Following the sale, the chief executive officer owned 250,000 shares of the company’s stock, valued at approximately $8,510,000. This trade represents a 43.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Jiang Yu sold 121,339 shares of Nano Nuclear Energy stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $31.78, for a total value of $3,856,153.42. Following the transaction, the chairman owned 8,724,000 shares in the company, valued at approximately $277,248,720. This represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,049,664 shares of company stock worth $69,352,176 over the last 90 days. 32.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently modified their holdings of NNE. Van ECK Associates Corp raised its holdings in shares of Nano Nuclear Energy by 24.7% during the fourth quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock worth $77,825,000 after acquiring an additional 643,070 shares during the period. Vanguard Group Inc. raised its stake in shares of Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after purchasing an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Nano Nuclear Energy by 11,676.8% in 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 purchasing an additional 1,711,592 shares during the period. Weiss Asset Management LP bought a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $38,224,000. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $38,224,000.

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.