Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 9.7% – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price rose 9.7% on Wednesday . The stock traded as high as $26.44 and last traded at $26.0880. Approximately 939,848 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,919,969 shares. The stock had previously closed at $23.78.

Analysts Set New Price Targets

NNE has been the subject of several recent analyst reports. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th. Texas Capital upgraded Nano Nuclear Energy to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Stock Performance

The company has a 50 day simple moving average of $23.45 and a 200 day simple moving average of $31.50. The company has a market capitalization of $1.38 billion, a PE ratio of -24.56 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.19. As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -1.4 EPS for the current year.

Insider Activity at Nano Nuclear Energy

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,664 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $27.69, for a total transaction of $101,456.16. Following the completion of the sale, the director directly owned 3,836 shares in the company, valued at approximately $106,218.84. The trade was a 48.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jiang Yu sold 121,339 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman owned 8,724,000 shares of the company’s stock, valued at approximately $277,248,720. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,049,664 shares of company stock worth $69,352,176 in the last quarter. Corporate insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Archer Investment Corp acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $39,000. Tripletail Wealth Management LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $43,000. US Bancorp DE increased its holdings in shares of Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Nano Nuclear Energy by 275.7% in the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 863 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $48,000.

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.