Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 6.5% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 6.5% during trading on Monday . The company traded as high as $17.18 and last traded at $16.75. 869,356 shares changed hands during trading, a decline of 61% from the average session volume of 2,205,692 shares. The stock had previously closed at $15.73.

Analyst Upgrades and Downgrades

NNE has been the topic of a number of research reports. Roth Capital began coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price target on the stock. Truist Financial started coverage on shares of Nano Nuclear Energy in a research report on Monday, July 13th. They set a “hold” rating and a $22.00 price objective for the company. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Friday, July 17th. Finally, Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Nano Nuclear Energy Trading Up 9.1%

The firm has a market cap of $921.17 million, a price-to-earnings ratio of -24.92 and a beta of 5.41. The stock’s 50 day moving average is $17.65 and its 200 day moving average is $21.62.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.50 million. On average, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.8 EPS for the current year.

Insiders Place Their Bets

In related news, CEO James Walker sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total value of $444,250.00. Following the transaction, the chief executive officer directly owned 635,000 shares in the company, valued at approximately $11,283,950. This represents a 3.79% decrease in their ownership of the stock. 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. 18.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. grew its position in Nano Nuclear Energy by 275.7% in the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 863 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Nano Nuclear Energy in the 1st quarter valued at approximately $36,000. State of Wyoming acquired a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at approximately $45,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter valued at approximately $68,000.

About Nano Nuclear Energy

NANO Nuclear Energy Inc is an advanced nuclear energy company focused on developing portable microreactors and related nuclear fuel and transportation capabilities. The company is pursuing reactor systems designed to provide reliable, carbon-free power for applications that may be difficult or costly to serve with traditional grid infrastructure.

Its product development portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor. The company is also developing the KRONOS micro modular reactor, while pursuing capabilities related to nuclear fuel fabrication, transportation and other supporting services.