Nano Nuclear Energy (NASDAQ:NNE) Trading Down 9.3% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded down 9.3% on Tuesday . The company traded as low as $19.51 and last traded at $19.5030. 406,302 shares changed hands during trading, a decline of 78% from the average session volume of 1,841,348 shares. The stock had previously closed at $21.51.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Texas Capital raised shares of Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Finally, Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th. Two investment 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. According to MarketBeat, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Nano Nuclear Energy Trading Down 8.1%

The company’s 50 day moving average is $24.91 and its 200 day moving average is $32.98. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -18.33 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.19. Analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Nano Nuclear Energy

In related news, major shareholder I Financial Ventures Group Llc sold 766,661 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the sale, the insider owned 8,724,000 shares of the company’s stock, valued at approximately $297,837,360. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jiang Yu sold 766,661 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the sale, the chairman directly owned 8,724,000 shares in the company, valued at approximately $297,837,360. This represents a 8.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,049,664 shares of company stock valued at $69,352,176. Insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Archer Investment Corp purchased a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $39,000. Tripletail Wealth Management LLC acquired a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $43,000. US Bancorp DE raised 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 during the last quarter. Harbour Investments Inc. raised its position in shares of 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 buying an additional 863 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $48,000.

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.