Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up After Analyst Upgrade

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price gapped up prior to trading on Monday after Wall Street Zen upgraded the stock from a strong sell rating to a sell rating. The stock had previously closed at $23.56, but opened at $26.30. Nano Nuclear Energy shares last traded at $25.09, with a volume of 1,243,501 shares.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, three 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Insider Activity

In other Nano Nuclear Energy 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 sale, the chief financial officer directly owned 345,000 shares in the company, valued at approximately $9,135,600. The trade was a 9.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the sale, the chairman owned 8,224,000 shares in the company, valued at approximately $219,416,320. The trade was a 7.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock valued at $43,096,346 in the last quarter. Company insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its stake in Nano Nuclear Energy by 9.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock valued at $105,000 after buying an additional 381 shares during the last quarter. US Bancorp DE increased its stake in Nano Nuclear Energy by 51.9% in the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after acquiring an additional 400 shares during the last quarter. Swiss National Bank raised its holdings in shares of Nano Nuclear Energy by 1.2% during the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock worth $2,325,000 after acquiring an additional 700 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Nano Nuclear Energy by 8.6% during the 3rd quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock worth $354,000 after acquiring an additional 727 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Nano Nuclear Energy by 4.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock valued at $390,000 after acquiring an additional 793 shares during the last quarter.

Nano Nuclear Energy Stock Up 6.5%

The business’s fifty day moving average is $24.65 and its two-hundred day moving average is $27.59. The stock has a market capitalization of $1.31 billion, a PE ratio of -36.42 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. Sell-side analysts expect that Nano Nuclear Energy Inc. will post -1.02 EPS for the current fiscal year.

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.