Nano Nuclear Energy (NASDAQ:NNE) Shares Down 9.7% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 9.7% during mid-day trading on Tuesday . The company traded as low as $23.70 and last traded at $23.2730. Approximately 632,441 shares traded hands during trading, a decline of 67% from the average daily volume of 1,922,542 shares. The stock had previously closed at $25.76.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NNE shares. Texas Capital upgraded Nano Nuclear Energy to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Nano Nuclear Energy Trading Up 4.3%

The stock has a 50-day simple moving average of $23.37 and a two-hundred day simple moving average of $30.52. The firm has a market capitalization of $1.22 billion, a P/E ratio of -21.65 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.19. As a group, research analysts expect that Nano Nuclear Energy Inc. will post -1.4 EPS for the current year.

Insiders Place Their Bets

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,664 shares of Nano Nuclear Energy stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $27.69, for a total transaction of $101,456.16. Following the completion of the sale, the director directly owned 3,836 shares of the company’s stock, valued at $106,218.84. The trade was a 48.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NNE. Harbour Investments Inc. lifted its stake 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 worth $28,000 after purchasing an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Nano Nuclear Energy by 165.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after purchasing an additional 835 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Nano Nuclear Energy during the 1st quarter worth $36,000. Archer Investment Corp purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth $39,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth $43,000.

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.