Nano Nuclear Energy (NASDAQ:NNE) Trading Up 7.3% - Should You Buy?

Key Points

• Nano Nuclear Energy shares rose 7.3% to about $19.02, although trading volume was 77% below the average session level.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average price target of $39, compared with its current price.
• The company beat quarterly EPS expectations with a loss of $0.19 per share versus an expected loss of $0.26, but revenue of $0.21 million fell short of the $0.50 million estimate; its CEO also sold 25,000 shares under a pre-arranged trading plan.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) rose 7.3% during mid-day trading on Tuesday . The company traded as high as $18.95 and last traded at $19.0210. 515,912 shares were traded during trading, a decline of 77% from the average session volume of 2,206,769 shares. The stock had previously closed at $17.72.

Analyst Ratings Changes

Several research analysts recently issued reports on NNE shares. Wall Street Zen upgraded shares of Nano Nuclear Energy from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Roth Capital started coverage on Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a "buy" rating and a $45.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Friday, July 17th. New Street Research set a $45.00 price objective on Nano Nuclear Energy in a research report on Thursday, August 13th. Finally, Benchmark reissued a "buy" rating on shares of Nano Nuclear Energy in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Nano Nuclear Energy Stock Performance

The stock's 50 day moving average price is $18.18 and its 200-day moving average price is $22.20. The company has a market cap of $1.04 billion, a PE ratio of -27.99 and a beta of 5.41.

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

Insider Activity at Nano Nuclear Energy

In other news, CEO James Walker sold 25,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total value of $444,250.00. Following the completion of the sale, the chief executive officer owned 635,000 shares of the company's stock, valued at approximately $11,283,950. The trade was a 3.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 18.61% of the company's stock.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in shares of Nano Nuclear Energy by 26.9% during the second quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company's stock valued at $80,752,000 after purchasing an additional 810,022 shares during the period. BlackRock Inc. purchased a new stake in Nano Nuclear Energy during the 2nd quarter valued at $73,826,000. Vanguard Group Inc. boosted its position in Nano Nuclear Energy by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company's stock valued at $54,360,000 after buying an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nano Nuclear Energy by 11,676.8% in the 3rd 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 during the last quarter. Finally, Weiss Asset Management LP bought a new stake in Nano Nuclear Energy in the 4th quarter worth $38,224,000.

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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