Nano Nuclear Energy Sees Unusually Large Options Volume (NASDAQ:NNE)

Key Points

• Unusually large options activity: Traders bought 10,549 call options on NNE on Tuesday, about a 55% increase versus typical daily call volume, as the stock rose 6.8% to $23.37 on heavy trading.
• Significant insider selling: CEO James Walker sold 195,000 shares for about $6.64M and company insiders have sold roughly 2,049,664 shares worth $69.35M over the last 90 days, though insiders still own 32.77% of the stock.
• Analyst view and fundamentals: Analysts hold a consensus "Moderate Buy" with an average target of $47, after NNE beat quarterly EPS estimates (‑$0.13 vs. ‑$0.32), but the firm has a negative forward EPS outlook and high volatility (beta 7.25).

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 10,549 call options on the stock. This represents an increase of approximately 55% compared to the typical daily volume of 6,824 call options.

Wall Street Analysts Forecast Growth

NNE has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Thursday, January 22nd. Benchmark reaffirmed a "buy" rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. 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 assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.00.

Insider Activity

In other news, Director Seth Jason Berl sold 3,664 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $27.69, for a total value of $101,456.16. Following the completion of the sale, the director directly owned 3,836 shares in the company, valued at $106,218.84. This represents a 48.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James John Walker sold 195,000 shares of the firm's stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total value of $6,637,800.00. Following the completion of the transaction, the chief executive officer directly owned 250,000 shares in the company, valued at approximately $8,510,000. This represents a 43.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,049,664 shares of company stock worth $69,352,176. Company insiders own 32.77% of the company's stock.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Nano Nuclear Energy by 185.2% in the 1st quarter. Royal Bank of Canada now owns 21,143 shares of the company's stock worth $560,000 after purchasing an additional 13,730 shares during the period. AQR Capital Management LLC bought a new stake in Nano Nuclear Energy in the first quarter worth $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nano Nuclear Energy by 535.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company's stock worth $385,000 after buying an additional 12,256 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company's stock worth $51,000 after buying an additional 1,520 shares during the period. Finally, Creative Planning bought a new position in Nano Nuclear Energy during the second quarter valued at $316,000.

Nano Nuclear Energy Stock Up 6.8%

NASDAQ NNE traded up $1.50 during trading hours on Tuesday, reaching $23.37. The company's stock had a trading volume of 1,572,543 shares, compared to its average volume of 1,883,649. 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 $1.22 billion, a price-to-earnings ratio of -21.62 and a beta of 7.25. The firm's 50-day moving average price is $23.86 and its 200-day moving average price is $32.17.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.19. Equities research analysts anticipate that Nano Nuclear Energy will post -0.92 EPS for the current fiscal year.

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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