Nano Nuclear Energy (NASDAQ:NNE) Shares Down 6.2% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares traded down 6.2% during mid-day trading on Wednesday . The company traded as low as $27.10 and last traded at $27.2570. 970,671 shares traded hands during trading, a decline of 53% from the average session volume of 2,069,012 shares. The stock had previously closed at $29.07.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Nano Nuclear Energy Stock Up 0.8%

The company has a fifty day moving average of $23.92 and a two-hundred day moving average of $27.89. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -42.03 and a beta of 5.15.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. Equities analysts anticipate that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,664 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $27.69, for a total value of $101,456.16. Following the completion of the sale, the director owned 3,836 shares of the company’s stock, valued at approximately $106,218.84. This trade represents a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbour Investments Inc. lifted its holdings 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 period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Nano Nuclear Energy by 165.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after acquiring an additional 835 shares during the period. Ascentis Independent Advisors acquired a new stake in Nano Nuclear Energy in the first quarter valued at $36,000. Archer Investment Corp purchased a new position in shares of Nano Nuclear Energy in the third quarter valued at $39,000. Finally, US Bancorp DE increased its position in shares of 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 buying an additional 400 shares in 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.