Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 7% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded down 7% on Monday . The stock traded as low as $26.08 and last traded at $26.2360. Approximately 1,300,370 shares traded hands during trading, a decline of 43% from the average daily volume of 2,266,188 shares. The stock had previously closed at $28.21.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Roth Mkm initiated coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, June 8th. Two equities research analysts have 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, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Nano Nuclear Energy Trading Down 6.2%

The firm has a fifty day moving average of $25.48 and a 200 day moving average of $27.17. The company has a market capitalization of $1.38 billion, a P/E ratio of -38.36 and a beta of 5.06.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.08. Sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nano Nuclear Energy news, Chairman Jiang Yu sold 700,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the sale, the chairman directly owned 8,224,000 shares in the company, valued at approximately $219,416,320. The trade was a 7.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the transaction, the chief financial officer directly owned 345,000 shares in the company, valued at $9,135,600. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,616,981 shares of company stock worth $43,096,346 in the last 90 days. Insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harbour Investments Inc. increased its position in shares of Nano Nuclear Energy by 275.7% during the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of 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 worth $32,000 after buying an additional 835 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Nano Nuclear Energy in the first quarter worth approximately $36,000. US Bancorp DE grew its position in Nano Nuclear Energy by 51.9% during 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 period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Nano Nuclear Energy during the third quarter valued at approximately $48,000.

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.