Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $26.73, but opened at $29.07. Nano Nuclear Energy shares last traded at $28.85, with a volume of 1,336,877 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Texas Capital upgraded Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, three 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Trading Up 12.7%

The stock has a 50-day moving average of $23.55 and a 200-day moving average of $28.15. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -43.67 and a beta of 5.15.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly 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. As a group, research analysts expect that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,664 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $27.69, for a total transaction of $101,456.16. Following the completion of the transaction, the director owned 3,836 shares in the company, valued at approximately $106,218.84. The trade was a 48.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Archer Investment Corp acquired a new position in Nano Nuclear Energy during the 3rd quarter worth $39,000. US Bancorp DE boosted its position in Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after acquiring an additional 400 shares during the period. Harbour Investments Inc. boosted its position in Nano Nuclear Energy by 275.7% during the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 863 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Nano Nuclear Energy during the 3rd quarter worth $48,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Nano Nuclear Energy by 165.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after acquiring an additional 835 shares during the period.

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.