Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up - Here's Why

Key Points

• Shares gapped up — NNE closed at $22.77, opened at $24.86 and last traded at $25.49 on a volume of 1,870,005 shares during the move.
• Analyst mix but overall bullish — seven analysts break down as 2 Strong Buy, 3 Buy, 1 Hold and 1 Sell, giving an average rating of "Moderate Buy" and an average price target of $47.00.
• Ownership and recent transactions — insiders own 32.77% with a director recently selling shares (a 48.85% reduction in his stake), while large institutional buyers like MIRAE and VanEck have significantly increased positions.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $22.77, but opened at $24.86. Nano Nuclear Energy shares last traded at $25.4920, with a volume of 1,870,005 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NNE shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Benchmark reaffirmed a "buy" rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Finally, Texas Capital raised 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 assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.00.

Nano Nuclear Energy Stock Up 27.5%

The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -26.88 and a beta of 5.15. The company has a 50 day simple moving average of $23.33 and a 200 day simple moving average of $29.97.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its earnings results on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.19. As a group, analysts predict that Nano Nuclear Energy Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,664 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $27.69, for a total transaction of $101,456.16. Following the completion of the transaction, the director owned 3,836 shares of the company's stock, valued at approximately $106,218.84. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.77% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Nano Nuclear Energy by 11,676.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company's stock worth $66,564,000 after acquiring an additional 1,711,592 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $38,224,000. Ghisallo Capital Management LLC bought a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $38,224,000. Van ECK Associates Corp grew its holdings in shares of Nano Nuclear Energy by 65.7% during the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company's stock worth $100,190,000 after purchasing an additional 1,030,262 shares during the last quarter. Finally, Regal Partners Ltd bought a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $23,535,000.

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.

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