Nano Nuclear Energy (NASDAQ:NNE) Trading Up 1.7% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded up 1.7% during trading on Thursday . The stock traded as high as $19.49 and last traded at $19.29. Approximately 1,779,716 shares were traded during trading, a decline of 23% from the average session volume of 2,323,965 shares. The stock had previously closed at $18.96.

Wall Street Analysts Forecast Growth

NNE has been the subject of several recent analyst reports. Roth Capital began coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price for the company. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.67.

Nano Nuclear Energy Trading Up 1.7%

The firm has a market capitalization of $1.00 billion, a P/E ratio of -27.96 and a beta of 5.27. The business’s fifty day moving average is $24.68 and its 200 day moving average is $25.96.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the stock in a transaction 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 $219,416,320. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the 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 transaction, the chairman directly owned 8,224,000 shares in the company, 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 90 days, insiders sold 1,616,981 shares of company stock worth $43,096,346. Insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. Van ECK Associates Corp increased its stake in shares of Nano Nuclear Energy by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock worth $77,825,000 after purchasing an additional 643,070 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Nano Nuclear Energy by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after buying an additional 486,367 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after purchasing an additional 1,711,592 shares during the period. Weiss Asset Management LP bought a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $38,224,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter worth approximately $38,224,000.

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.