Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped up before the market opened on Monday . The stock had previously closed at $19.87, but opened at $21.05. Nano Nuclear Energy shares last traded at $20.83, with a volume of 633,330 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Roth Mkm started coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price objective for the company. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nano Nuclear Energy has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Nano Nuclear Energy Stock Up 5.5%

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -30.39 and a beta of 5.06. The firm’s 50 day moving average is $25.51 and its 200 day moving average is $26.73.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. On average, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the sale, the insider directly owned 8,224,000 shares in the company, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total value of $18,676,000.00. Following the completion of the transaction, the chairman owned 8,224,000 shares in the company, valued at $219,416,320. This represents a 7.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,616,981 shares of company stock worth $43,096,346. 32.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NNE. Vanguard Group Inc. grew its position in Nano Nuclear Energy by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after acquiring an additional 486,367 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock worth $2,854,000 after acquiring an additional 60,336 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after purchasing an additional 1,030,262 shares during the last quarter. UBS Group AG increased its position in Nano Nuclear Energy by 135.7% in the 4th quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after buying an additional 666,722 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Nano Nuclear Energy by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 346,123 shares of the company’s stock worth $8,310,000 after buying an additional 47,960 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.