Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $22.30, but opened at $23.40. Nano Nuclear Energy shares last traded at $23.3060, with a volume of 386,906 shares traded.

Key Stories Impacting Nano Nuclear Energy

Here are the key news stories impacting Nano Nuclear Energy this week:

• Positive Sentiment: The NRC’s acceptance of the KRONOS MMR construction permit application is a meaningful de-risking event and improves the outlook for potential commercialization and deployment. NANO Nuclear’s KRONOS MMR™ and the University of Illinois Urbana-Champaign Advance to Next Regulatory Milestone…
• Positive Sentiment: Northland Securities raised multiple near- and medium-term EPS estimates, signaling improved expectations for the company’s financial trajectory. Nano Nuclear Energy Inc. analyst estimate update
• Neutral Sentiment: Coverage pieces discussing a “new deal” and the broader thesis around powering data centers and industrial customers reinforce the growth story, but do not appear to include a new operational announcement beyond the regulatory update. Does Nano Nuclear Energy’s New Deal Amp the Outlook?
• Negative Sentiment: Broader nuclear/uranium stocks have been under pressure recently, suggesting sector sentiment remains choppy and could temper gains in NNE. The nuclear trade goes cold

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Texas Capital raised Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Stock Up 9.2%

The firm’s fifty day moving average price is $23.42 and its two-hundred day moving average price is $28.70. The stock has a market capitalization of $1.27 billion, a PE ratio of -35.21 and a beta of 5.15.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.08. As a group, analysts predict that Nano Nuclear Energy Inc. will post -1.25 EPS for the current year.

Insider Buying and Selling at Nano Nuclear Energy

In other news, Director Seth Jason Berl sold 3,664 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $27.69, for a total transaction of $101,456.16. Following the completion of the transaction, the director directly owned 3,836 shares of the company’s stock, valued at $106,218.84. The trade was a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 32.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of large investors have recently made changes to their positions in NNE. Harbour Investments Inc. grew its stake in shares of Nano Nuclear Energy by 275.7% during the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 863 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Nano Nuclear Energy by 165.7% during the 4th 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 period. Ascentis Independent Advisors bought a new stake in shares of Nano Nuclear Energy during the 1st quarter valued at about $36,000. Archer Investment Corp bought a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at about $39,000. Finally, US Bancorp DE grew its stake in shares of Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the period.

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.