Nano Nuclear Energy (NASDAQ:NNE) Trading Down 9.1% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was down 9.1% during mid-day trading on Tuesday . The stock traded as low as $24.01 and last traded at $23.4930. Approximately 1,340,178 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 2,192,996 shares. The stock had previously closed at $25.85.

Wall Street Analysts Forecast Growth

NNE has been the subject of a number of research analyst reports. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Stock Performance

The stock has a market capitalization of $1.23 billion, a PE ratio of -34.13 and a beta of 5.05. The business’s 50-day moving average is $24.88 and its two-hundred day moving average is $27.44.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data 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 forecast that Nano Nuclear Energy Inc. will post -1.02 EPS for the current year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,750 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.92, for a total transaction of $93,450.00. Following the sale, the director directly owned 7,586 shares in the company, valued at approximately $189,043.12. The trade was a 33.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jaisun Garcha sold 37,215 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. 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 valued at $43,096,346 in the last three months. Insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently modified their holdings of NNE. Harbour Investments Inc. lifted 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 acquiring an additional 863 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position 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 valued at $32,000 after buying an additional 835 shares in the last quarter. Ascentis Independent Advisors purchased a new position in shares of Nano Nuclear Energy in the first quarter valued at $36,000. 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. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Nano Nuclear Energy in the third quarter valued at $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.