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

Key Points

• Nano Nuclear Energy shares jumped, opening at $16.60 versus a prior close of $15.59 and last trading at $17.34. The company has a market capitalization of approximately $853.9 million and high volatility, reflected in its 5.27 beta.
• Analyst sentiment is mixed but leans positive: the stock has an overall “Moderate Buy” rating and a $40.75 average price target, despite separate sell and strong-sell ratings. Recent coverage included a $46 buy target from Alliance Global Partners and a $22 hold target from Truist Financial.
• Nano Nuclear beat quarterly loss expectations, reporting a $0.18 loss per share versus the expected $0.26 loss, though analysts project a $0.93 loss per share for the full year. Insiders sold more than 1.6 million shares worth approximately $43.1 million over the past quarter.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $15.59, but opened at $16.60. Nano Nuclear Energy shares last traded at $17.34, with a volume of 512,673 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen cut Nano Nuclear Energy from a "sell" rating to a "strong sell" rating in a report on Saturday, July 18th. Benchmark reiterated a "buy" rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Alliance Global Partners assumed coverage on shares of Nano Nuclear Energy in a research report on Monday. They issued a "buy" rating and a $46.00 target price on the stock. Truist Financial began coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They issued a "hold" rating and a $22.00 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $40.75.

Nano Nuclear Energy Stock Performance

The firm has a market capitalization of $853.90 million, a price-to-earnings ratio of -23.85 and a beta of 5.27. The business has a fifty day moving average price of $22.63 and a 200 day moving average price of $25.00.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.08. On average, analysts expect that Nano Nuclear Energy Inc. will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Seth Jason Berl sold 3,750 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $24.92, for a total transaction of $93,450.00. Following the completion of the sale, the director owned 7,586 shares in the company, valued at approximately $189,043.12. The trade was a 33.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the sale, the chief financial officer directly owned 345,000 shares of the company's stock, valued at approximately $9,135,600. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,616,981 shares of company stock worth $43,096,346. Corporate insiders own 32.77% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE increased its position in shares of Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company's stock worth $45,000 after acquiring an additional 400 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Nano Nuclear Energy by 275.7% in the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company's stock valued at $28,000 after acquiring an additional 863 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $48,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Nano Nuclear Energy by 165.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company's stock valued at $32,000 after acquiring an additional 835 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Nano Nuclear Energy during the 1st quarter valued at $36,000.

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.

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