Nano Nuclear Energy Target of Unusually Large Options Trading (NASDAQ:NNE)

Nano Nuclear Energy Inc. (NASDAQ:NNE) was the recipient of unusually large options trading on Tuesday. Investors bought 10,549 call options on the stock. This is an increase of approximately 55% compared to the average volume of 6,824 call options.

Nano Nuclear Energy Stock Performance

NASDAQ NNE opened at $23.52 on Wednesday. The stock has a market capitalization of $1.22 billion, a P/E ratio of -21.78 and a beta of 7.25. Nano Nuclear Energy has a 1 year low of $17.26 and a 1 year high of $60.87. The business’s fifty day moving average is $23.73 and its two-hundred day moving average is $32.06.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.19. On average, research analysts forecast that Nano Nuclear Energy will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

NNE has been the topic of several recent analyst reports. Texas Capital raised Nano Nuclear Energy to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Thursday, January 22nd. Finally, Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued 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 a consensus price target of $47.00.

Insider Activity

In related news, Director Seth Jason Berl sold 3,664 shares of the business’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 transaction of $101,456.16. Following the sale, the director owned 3,836 shares of the company’s stock, valued at $106,218.84. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jaisun Garcha sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total value of $2,553,000.00. Following the sale, the chief financial officer directly owned 250,000 shares in the company, valued at approximately $8,510,000. The trade was a 23.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,049,664 shares of company stock valued at $69,352,176 over the last 90 days. Corporate insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Harbour Investments Inc. increased its holdings in shares of Nano Nuclear Energy by 275.7% in the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after buying an additional 863 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Nano Nuclear Energy by 165.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after buying an additional 835 shares in the last quarter. Archer Investment Corp acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at $39,000. Tripletail Wealth Management LLC acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at $43,000. Finally, US Bancorp DE raised its stake in Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 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.