Nano Nuclear Energy (NASDAQ:NNE) Trading 9.9% Higher on Analyst Upgrade

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were up 9.9% during mid-day trading on Tuesday after Texas Capital upgraded the stock to a strong-buy rating. The company traded as high as $36.11 and last traded at $36.0290. Approximately 1,088,081 shares traded hands during trading, a decline of 46% from the average daily volume of 2,024,906 shares. The stock had previously closed at $32.79.

A number of other equities analysts also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, December 19th. Two research analysts have 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Insider Activity

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 378,474 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $30.14, for a total transaction of $11,407,206.36. Following the transaction, the insider owned 9,621,526 shares in the company, valued at approximately $289,992,793.64. This represents a 3.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Jiang Yu sold 378,474 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $30.14, for a total value of $11,407,206.36. Following the completion of the transaction, the chairman owned 9,621,526 shares of the company’s stock, valued at $289,992,793.64. This trade represents a 3.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,936,000 shares of company stock valued at $56,375,077. 32.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in Nano Nuclear Energy by 185.2% in the 1st quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock valued at $560,000 after acquiring an additional 13,730 shares during the period. AQR Capital Management LLC purchased a new position in Nano Nuclear Energy during the first quarter valued at $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Nano Nuclear Energy by 535.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock valued at $385,000 after purchasing an additional 12,256 shares during the period. NewEdge Advisors LLC grew its position in shares of Nano Nuclear Energy by 385.8% in the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock valued at $51,000 after purchasing an additional 1,520 shares during the period. Finally, KLP Kapitalforvaltning AS increased its stake in shares of Nano Nuclear Energy by 173.9% during the second quarter. KLP Kapitalforvaltning AS now owns 12,600 shares of the company’s stock worth $435,000 after purchasing an additional 8,000 shares in the last quarter.

Nano Nuclear Energy Trading Down 7.1%

The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -30.88 and a beta of 7.48. The firm’s 50-day moving average is $32.28 and its two-hundred day moving average is $36.36.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.14. On average, analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

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.