Nano Nuclear Energy (NASDAQ:NNE) Trading 7.3% Higher – Time to Buy?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were up 7.3% during mid-day trading on Tuesday . The stock traded as high as $18.95 and last traded at $19.0210. 515,912 shares changed hands during trading, a decline of 77% from the average daily volume of 2,206,769 shares. The stock had previously closed at $17.72.

Wall Street Analyst Weigh In

NNE has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Northland Securities set a $37.00 target price on shares of Nano Nuclear Energy in a research report on Friday, August 14th. Truist Financial started coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They issued a “hold” rating and a $22.00 target price for the company. Finally, Roth Capital began coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nano Nuclear Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Nano Nuclear Energy Trading Down 6.1%

The firm has a market capitalization of $975.73 million, a price-to-earnings ratio of -26.33 and a beta of 5.41. The firm has a 50 day moving average price of $18.10 and a two-hundred day moving average price of $22.11.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.50 million. As a group, research analysts forecast that Nano Nuclear Energy Inc. will post -0.8 earnings per share for the current year.

Insider Activity at Nano Nuclear Energy

In related news, CEO James Walker sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total transaction of $444,250.00. Following the transaction, the chief executive officer directly owned 635,000 shares of the company’s stock, valued at approximately $11,283,950. The trade was a 3.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of large investors have recently added to or reduced their stakes in NNE. Engineers Gate Manager LP acquired a new position in Nano Nuclear Energy in the 2nd quarter worth $302,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Nano Nuclear Energy during the second quarter worth about $289,000. California State Teachers Retirement System lifted its stake in shares of Nano Nuclear Energy by 2,602.0% in the second quarter. California State Teachers Retirement System now owns 1,012,564 shares of the company’s stock worth $21,406,000 after acquiring an additional 975,090 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Nano Nuclear Energy in the second quarter valued at about $778,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Nano Nuclear Energy by 5.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,266 shares of the company’s stock valued at $1,337,000 after purchasing an additional 2,993 shares during the last quarter.

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.