Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $22.77, but opened at $24.86. Nano Nuclear Energy shares last traded at $25.4920, with a volume of 1,870,005 shares.

Analyst Upgrades and Downgrades

NNE has been the topic of several research reports. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Texas Capital upgraded Nano Nuclear Energy to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Two investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Price Performance

The company has a fifty day moving average of $23.33 and a 200 day moving average of $29.97. The firm has a market capitalization of $1.51 billion, a P/E ratio of -26.88 and a beta of 5.15.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.19. On average, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -1.4 EPS for the current year.

Insider Buying and Selling

In related news, Director Seth Jason Berl sold 3,664 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $27.69, for a total value of $101,456.16. Following the sale, the director directly owned 3,836 shares in the company, valued at $106,218.84. This represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 32.77% of the stock is owned by insiders.

Institutional Trading of Nano Nuclear Energy

Several institutional investors have recently added to or reduced their stakes in NNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nano Nuclear Energy by 11,676.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after acquiring an additional 1,711,592 shares during the last quarter. Weiss Asset Management LP bought a new stake in Nano Nuclear Energy in the fourth quarter valued at approximately $38,224,000. Ghisallo Capital Management LLC acquired a new position in Nano Nuclear Energy in the fourth quarter valued at approximately $38,224,000. Van ECK Associates Corp lifted its stake in Nano Nuclear Energy by 65.7% in the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after buying an additional 1,030,262 shares during the period. Finally, Regal Partners Ltd acquired a new position in Nano Nuclear Energy in the fourth quarter valued at approximately $23,535,000.

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.