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

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $33.05, but opened at $35.11. Nano Nuclear Energy shares last traded at $34.53, with a volume of 998,412 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NNE. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Nano Nuclear Energy has an average rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Stock Down 3.1%

The stock’s 50-day moving average price is $32.89 and its 200-day moving average price is $36.37. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -30.78 and a beta of 7.48.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.14. On average, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling at Nano Nuclear Energy

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 378,474 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $30.14, for a total transaction of $11,407,206.36. Following the completion of the sale, the insider directly owned 9,621,526 shares of the company’s stock, valued at approximately $289,992,793.64. The trade was a 3.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Jiang Yu sold 378,474 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $30.14, for a total transaction of $11,407,206.36. Following the completion of the transaction, the chairman directly owned 9,621,526 shares in the company, valued at $289,992,793.64. This trade represents a 3.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,936,000 shares of company stock valued at $56,375,077 over the last ninety days. Company insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Archer Investment Corp acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at approximately $39,000. Tripletail Wealth Management LLC bought a new stake in Nano Nuclear Energy in the third quarter valued at approximately $43,000. US Bancorp DE increased its stake in Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy in the third quarter worth $48,000. Finally, NewEdge Advisors LLC boosted its position in shares of Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after purchasing an additional 1,520 shares in the last quarter.

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.