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

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $33.86, but opened at $35.94. Nano Nuclear Energy shares last traded at $35.5540, with a volume of 1,603,601 shares trading hands.

Analysts Set New Price Targets

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

Nano Nuclear Energy Stock Performance

The firm has a fifty day moving average price of $32.03 and a 200 day moving average price of $36.39. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -32.01 and a beta of 7.48.

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

Insiders Place Their Bets

In other Nano Nuclear Energy news, Director Diane Elizabeth Hare sold 20,000 shares of Nano Nuclear Energy stock in a transaction on Monday, January 5th. The shares were sold at an average price of $28.70, for a total transaction of $574,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder I Financial Ventures Group Llc sold 176,457 shares of the company’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $27.03, for a total transaction of $4,769,632.71. Following the completion of the transaction, the insider owned 9,112,000 shares in the company, valued at approximately $246,297,360. This represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,936,000 shares of company stock worth $56,375,077 in the last quarter. Company insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Nano Nuclear Energy by 185.2% in the 1st quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock valued at $560,000 after buying an additional 13,730 shares in the last quarter. AQR Capital Management LLC bought a new position in Nano Nuclear Energy in the first quarter valued at approximately $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nano Nuclear Energy by 535.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock valued at $385,000 after purchasing an additional 12,256 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after purchasing an additional 1,520 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Nano Nuclear Energy by 173.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,600 shares of the company’s stock valued at $435,000 after purchasing an additional 8,000 shares in 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.