Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 9.2% – Time to Buy?
by Scott Moore · The Cerbat GemNano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report) shares shot up 9.2% during mid-day trading on Monday . The stock traded as high as $30.40 and last traded at $30.14. 1,065,163 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 1,530,175 shares. The stock had previously closed at $27.61.
Wall Street Analysts Forecast Growth
NNE has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, December 19th. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.
Check Out Our Latest Report on Nano Nuclear Energy
Nano Nuclear Energy Trading Down 1.8%
The firm’s 50-day simple moving average is $33.81 and its two-hundred day simple moving average is $36.47. The stock has a market capitalization of $1.58 billion, a PE ratio of -30.15 and a beta of 7.48.
Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last issued its earnings results on Thursday, December 18th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.14. As a group, research analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.
Insider Buying and Selling
In related news, Chairman Jiang Yu sold 176,457 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $27.03, for a total transaction of $4,769,632.71. Following the transaction, the chairman owned 9,112,000 shares of the company’s stock, valued at approximately $246,297,360. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane Elizabeth Hare sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $28.70, for a total transaction of $574,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,936,000 shares of company stock worth $56,375,077. Insiders own 32.77% of the company’s stock.
Institutional Trading of Nano Nuclear Energy
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock worth $2,854,000 after acquiring an additional 60,336 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Nano Nuclear Energy by 102.1% in the third quarter. IFP Advisors Inc now owns 8,342 shares of the company’s stock worth $322,000 after purchasing an additional 4,214 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth about $48,000. NewEdge Advisors LLC boosted its stake in Nano Nuclear Energy by 6.5% during the 3rd quarter. NewEdge Advisors LLC now owns 63,377 shares of the company’s stock valued at $2,444,000 after purchasing an additional 3,882 shares during the period. Finally, Scientech Research LLC acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at approximately $1,113,000.
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.