Investors Buy Large Volume of Call Options on Nano Nuclear Energy (NASDAQ:NNE)

Nano Nuclear Energy Inc. (NASDAQ:NNE) was the recipient of some unusual options trading on Tuesday. Traders acquired 10,549 call options on the stock. This is an increase of 55% compared to the average volume of 6,824 call options.

Wall Street Analyst Weigh In

NNE has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Thursday, January 22nd. Finally, Texas Capital raised Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Two 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Insider Activity

In related news, CFO Jaisun Garcha sold 75,000 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total transaction of $2,553,000.00. Following the transaction, the chief financial officer directly owned 250,000 shares of the company’s stock, valued at approximately $8,510,000. The trade was a 23.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jiang Yu sold 766,661 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total value of $26,173,806.54. Following the transaction, the chairman directly owned 8,724,000 shares in the company, valued at $297,837,360. The trade was a 8.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,049,664 shares of company stock valued at $69,352,176 in the last ninety days. Corporate insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its stake in Nano Nuclear Energy by 9.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock valued at $105,000 after purchasing an additional 381 shares during the period. US Bancorp DE boosted its stake in 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. CWM LLC boosted its stake in Nano Nuclear Energy by 17.7% during the 3rd quarter. CWM LLC now owns 3,837 shares of the company’s stock valued at $148,000 after purchasing an additional 576 shares during the period. Swiss National Bank boosted its stake in Nano Nuclear Energy by 1.2% during the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after purchasing an additional 700 shares during the period. Finally, Arizona State Retirement System boosted its stake in Nano Nuclear Energy by 8.6% during the 3rd quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock valued at $354,000 after purchasing an additional 727 shares during the period.

Nano Nuclear Energy Trading Up 1.1%

NNE stock traded up $0.26 during mid-day trading on Thursday, hitting $24.55. The stock had a trading volume of 2,842,712 shares, compared to its average volume of 1,927,038. Nano Nuclear Energy has a 1-year low of $17.26 and a 1-year high of $60.87. The company has a fifty day moving average of $23.66 and a 200 day moving average of $32.00. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -22.73 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.19. As a group, sell-side analysts expect that Nano Nuclear Energy will post -0.92 earnings per share for the current fiscal year.

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.