Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 8.6% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 8.6% during trading on Wednesday . The stock traded as high as $26.38 and last traded at $26.0650. Approximately 568,305 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,209,650 shares. The stock had previously closed at $24.01.

Analysts Set New Price Targets

NNE has been the topic of several research reports. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Finally, Roth Mkm assumed coverage on shares of Nano Nuclear Energy in a research report on Wednesday. They issued a “buy” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Nano Nuclear Energy Stock Up 11.3%

The firm’s 50-day moving average price is $25.12 and its 200-day moving average price is $27.26. The company has a market cap of $1.39 billion, a P/E ratio of -38.77 and a beta of 5.06.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.08. As a group, analysts forecast that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Florent Heidet sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $24.95, for a total value of $74,850.00. Following the sale, the chief technology officer owned 6,185 shares of the company’s stock, valued at $154,315.75. The trade was a 32.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the insider directly owned 8,224,000 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. Corporate insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds have recently bought and sold shares of NNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Nano Nuclear Energy by 11,676.8% during 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 in the last quarter. Weiss Asset Management LP purchased a new position in Nano Nuclear Energy during the fourth quarter valued at approximately $38,224,000. Ghisallo Capital Management LLC purchased a new position in Nano Nuclear Energy during the fourth quarter valued at approximately $38,224,000. Van ECK Associates Corp grew its stake in Nano Nuclear Energy by 65.7% during the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after acquiring an additional 1,030,262 shares in the last quarter. Finally, Regal Partners Ltd purchased a new position in Nano Nuclear Energy during the fourth quarter valued at approximately $23,535,000.

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.