Nano Nuclear Energy (NASDAQ:NNE) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• Beat estimates: Nano Nuclear Energy reported quarterly EPS of ($0.13), topping the consensus of ($0.32) by $0.19, and the stock traded up to $25.23 on the news.
• Heavy insider selling: CEO James John Walker sold 195,000 shares (and major shareholder I Financial Ventures sold 766,661 shares) as insiders disposed of about 3.98 million shares in the past 90 days, though insiders still own 32.77% of the company.
• Mixed analyst view with bullish price target: The company has a $1.28 billion market cap, a negative P/E (-24.26) and high beta (7.47), while analysts hold a consensus "Moderate Buy" rating with a $47.00 price target.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.19, Zacks reports.

Nano Nuclear Energy Stock Performance

Nano Nuclear Energy stock traded up $0.44 during midday trading on Tuesday, reaching $25.23. 1,374,952 shares of the company were exchanged, compared to its average volume of 2,025,904. The firm's 50-day simple moving average is $30.97 and its 200-day simple moving average is $35.54. Nano Nuclear Energy has a 1 year low of $17.26 and a 1 year high of $60.87. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -24.26 and a beta of 7.47.

Insider Buying and Selling at Nano Nuclear Energy

In related news, CEO James John Walker sold 195,000 shares of the company's stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $34.04, for a total transaction of $6,637,800.00. Following the transaction, the chief executive officer owned 250,000 shares of the company's stock, valued at approximately $8,510,000. This represents a 43.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder I Financial Ventures Group Llc sold 766,661 shares of the firm's stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the sale, the insider owned 8,724,000 shares in the company, valued at approximately $297,837,360. This trade represents a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,982,000 shares of company stock worth $125,625,797. Corporate insiders own 32.77% of the company's stock.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in shares of Nano Nuclear Energy by 51.9% in 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 last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Nano Nuclear Energy in the 3rd quarter worth $48,000. NewEdge Advisors LLC boosted its holdings in Nano Nuclear Energy by 385.8% in the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company's stock valued at $51,000 after acquiring an additional 1,520 shares during the last quarter. Global Retirement Partners LLC grew its position in Nano Nuclear Energy by 322.7% during the fourth quarter. Global Retirement Partners LLC now owns 2,139 shares of the company's stock valued at $51,000 after acquiring an additional 1,633 shares during the period. Finally, National Bank of Canada FI grew its position in Nano Nuclear Energy by 69.3% during the third quarter. National Bank of Canada FI now owns 3,184 shares of the company's stock valued at $123,000 after acquiring an additional 1,303 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on NNE. Benchmark reiterated a "buy" rating on shares of Nano Nuclear Energy in a research report on Friday, December 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Thursday, January 22nd. Finally, Texas Capital upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Tuesday, January 27th. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.

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.

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