Nano Nuclear Energy (NASDAQ:NNE) Trading Up 6.5% - Time to Buy?

Key Points

• Nano Nuclear Energy shares rose 6.5% to $16.75, though trading volume was 61% below the average daily level. The stock has a market capitalization of about $921 million and a beta of 5.41, indicating high volatility.
• Analysts have a consensus rating of “Moderate Buy” and an average price target of $38, with several firms assigning $45 targets. However, ratings range from Strong Buy to Sell.
• The company reported a quarterly loss of $0.19 per share, better than the expected $0.26 loss, but revenue of $0.21 million fell short of the $0.50 million estimate. CEO James Walker also sold 25,000 shares under a pre-arranged trading plan.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price was up 6.5% on Monday . The company traded as high as $17.18 and last traded at $16.75. 869,356 shares changed hands during trading, a decline of 61% from the average daily volume of 2,205,692 shares. The stock had previously closed at $15.73.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NNE shares. New Street Research set a $45.00 price objective on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Benchmark restated a "buy" rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Friday, July 17th. Roth Capital initiated coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They set a "buy" rating and a $45.00 price target on the stock. Finally, Northland Securities set a $37.00 price target on Nano Nuclear Energy in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nano Nuclear Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

Nano Nuclear Energy Price Performance

The stock has a market cap of $921.17 million, a P/E ratio of -24.92 and a beta of 5.41. The company has a fifty day moving average of $17.65 and a 200 day moving average of $21.62.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. As a group, analysts anticipate that Nano Nuclear Energy Inc. will post -0.8 EPS for the current year.

Insiders Place Their Bets

In related news, CEO James Walker sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total transaction of $444,250.00. Following the transaction, the chief executive officer directly owned 635,000 shares of the company's stock, valued at approximately $11,283,950. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently bought and sold shares of the business. Pine Valley Investments Ltd Liability Co grew its holdings in Nano Nuclear Energy by 7.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company's stock valued at $211,000 after purchasing an additional 720 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Nano Nuclear Energy by 4.3% in the first quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company's stock worth $390,000 after purchasing an additional 793 shares during the period. Harbour Investments Inc. raised its holdings in Nano Nuclear Energy by 275.7% in the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company's stock worth $28,000 after purchasing an additional 863 shares during the period. Leonteq Securities AG boosted its position in shares of Nano Nuclear Energy by 15.4% during the first quarter. Leonteq Securities AG now owns 7,504 shares of the company's stock worth $154,000 after purchasing an additional 1,004 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Nano Nuclear Energy by 12.5% during the fourth quarter. IFP Advisors Inc now owns 9,384 shares of the company's stock worth $225,000 after purchasing an additional 1,042 shares in the last quarter.

About Nano Nuclear Energy

NANO Nuclear Energy Inc is an advanced nuclear energy company focused on developing portable microreactors and related nuclear fuel and transportation capabilities. The company is pursuing reactor systems designed to provide reliable, carbon-free power for applications that may be difficult or costly to serve with traditional grid infrastructure.

Its product development portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor. The company is also developing the KRONOS micro modular reactor, while pursuing capabilities related to nuclear fuel fabrication, transportation and other supporting services.

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