Traders Buy High Volume of Call Options on Nano Nuclear Energy (NASDAQ:NNE)

Key Points

• Nano Nuclear Energy Inc. (NASDAQ:NNE) experienced a significant surge in call options trading, with 35,237 options bought, reflecting a 129% increase from the normal volume.
• The company's stock price increased to $45.22 with a trading volume vastly exceeding its average, highlighting strong market interest.
• Analyst sentiments are mixed, with one firm downgrading the stock from a "buy" to a "sell" rating and others maintaining positive ratings, leading to a consensus target price of $41.25.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was the target of unusually large options trading on Friday. Traders bought 35,237 call options on the company. This is an increase of approximately 129% compared to the typical volume of 15,358 call options.

Nano Nuclear Energy Price Performance

Shares of Nano Nuclear Energy stock traded down $0.94 during trading hours on Monday, hitting $45.37. The company's stock had a trading volume of 5,189,173 shares, compared to its average volume of 2,875,148. The business has a 50 day moving average price of $34.83 and a two-hundred day moving average price of $30.69. Nano Nuclear Energy has a 12-month low of $12.05 and a 12-month high of $48.05.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. As a group, analysts expect that Nano Nuclear Energy will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on NNE shares. LADENBURG THALM/SH SH lowered Nano Nuclear Energy from a "buy" rating to a "sell" rating and cut their price objective for the stock from $51.00 to $9.00 in a report on Monday, August 18th. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a report on Friday, August 15th. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. Northland Securities started coverage on Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, BTIG Research started coverage on Nano Nuclear Energy in a report on Thursday, August 28th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.25.

Hedge Funds Weigh In On Nano Nuclear Energy

Several large investors have recently made changes to their positions in NNE. Hood River Capital Management LLC purchased a new position in shares of Nano Nuclear Energy in the second quarter valued at about $31,935,000. Vanguard Group Inc. lifted its position in shares of Nano Nuclear Energy by 44.4% in the first quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock valued at $26,196,000 after acquiring an additional 304,405 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter worth about $4,544,000. Exchange Traded Concepts LLC purchased a new stake in shares of Nano Nuclear Energy in the second quarter worth about $6,269,000. Finally, Nuveen LLC purchased a new position in Nano Nuclear Energy during the 1st quarter valued at approximately $2,574,000.

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.