Nano Nuclear Energy (NASDAQ:NNE) Rating Increased to Strong-Buy at Texas Capital

Texas Capital upgraded shares of Nano Nuclear Energy (NASDAQ:NNE) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also commented on NNE. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Nano Nuclear Energy Stock Down 9.2%

Shares of NNE traded down $3.17 during mid-day trading on Tuesday, reaching $31.39. The company had a trading volume of 1,385,295 shares, compared to its average volume of 2,139,297. Nano Nuclear Energy has a 52-week low of $17.26 and a 52-week high of $60.87. The stock has a market capitalization of $1.58 billion, a P/E ratio of -30.23 and a beta of 7.48. The stock has a 50 day moving average of $32.22 and a two-hundred day moving average of $36.38.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.14. On average, sell-side analysts expect that Nano Nuclear Energy will post -0.92 earnings per share for the current year.

Insider Transactions at Nano Nuclear Energy

In related news, CEO James John Walker sold 25,000 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $30.12, for a total transaction of $753,000.00. Following the transaction, the chief executive officer directly owned 275,000 shares in the company, valued at approximately $8,283,000. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenny Joe Yung Yu sold 40,000 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $32.43, for a total value of $1,297,200.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at $486,450. This trade represents a 72.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,936,000 shares of company stock worth $56,375,077 in the last three months. 32.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently bought and sold shares of NNE. Archer Investment Corp bought a new position in Nano Nuclear Energy in the 3rd quarter valued at about $39,000. Tripletail Wealth Management LLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth approximately $43,000. US Bancorp DE grew its stake in Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $48,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Nano Nuclear Energy by 165.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 835 shares during the last quarter.

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.