Nano Nuclear Energy (NASDAQ:NNE) Shares Up 9.9% After Analyst Upgrade

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares traded up 9.9% on Tuesday after Texas Capital upgraded the stock to a strong-buy rating. The company traded as high as $36.11 and last traded at $36.0290. 1,088,081 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 2,024,906 shares. The stock had previously closed at $32.79.

Other equities research analysts also recently issued research reports about the company. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Thursday, January 22nd. Two 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 issued a Sell rating to the company. According to MarketBeat.com, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and an average target price of $47.00.

Insider Buying and Selling

In other Nano Nuclear Energy news, Director Kenny Joe Yung Yu sold 40,000 shares of the company’s 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 sale, the director directly owned 15,000 shares in the company, valued at $486,450. This represents a 72.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tsun Yee Law sold 55,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $32.43, for a total value of $1,783,650.00. Following the completion of the sale, the director directly owned 75,000 shares in the company, valued at approximately $2,432,250. This represents a 42.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,936,000 shares of company stock worth $56,375,077. 32.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Nano Nuclear Energy by 165.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 835 shares in the last quarter. Archer Investment Corp bought a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $39,000. Tripletail Wealth Management LLC bought a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $43,000. US Bancorp DE increased 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 valued at $45,000 after acquiring an additional 400 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Nano Nuclear Energy during the third quarter valued at $48,000.

Nano Nuclear Energy Price Performance

The company has a market cap of $1.62 billion, a price-to-earnings ratio of -30.88 and a beta of 7.48. The business’s fifty day moving average price is $32.28 and its 200 day moving average price is $36.36.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.14. As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current 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.