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

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $33.05, but opened at $35.11. Nano Nuclear Energy shares last traded at $34.53, with a volume of 998,412 shares changing hands.

Wall Street Analyst Weigh In

NNE has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Wednesday, October 8th. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Nano Nuclear Energy currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Stock Performance

The business’s 50 day moving average price is $33.20 and its 200-day moving average price is $36.41. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -32.62 and a beta of 7.48.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.14. On average, analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Nano Nuclear Energy

In related news, Chairman Jiang Yu sold 176,457 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $27.03, for a total transaction of $4,769,632.71. Following the sale, the chairman directly owned 9,112,000 shares of the company’s stock, valued at approximately $246,297,360. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenny Joe Yung Yu sold 40,000 shares of Nano Nuclear Energy stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $32.43, for a total transaction of $1,297,200.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $486,450. This represents a 72.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,936,000 shares of company stock worth $56,375,077. 32.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Archer Investment Corp bought a new position in shares of Nano Nuclear Energy during the third quarter worth about $39,000. Tripletail Wealth Management LLC acquired a new position in Nano Nuclear Energy during the 3rd quarter valued at about $43,000. US Bancorp DE grew its position 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 purchasing an additional 400 shares during the last quarter. 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. Finally, Total Investment Management Inc. acquired a new stake in shares of Nano Nuclear Energy in the second quarter valued at approximately $60,000.

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.