Nano Nuclear Energy (NASDAQ:NNE) Sets New 1-Year Low – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $18.34 and last traded at $18.4390, with a volume of 763640 shares trading hands. The stock had previously closed at $20.19.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NNE shares. Roth Capital assumed coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nano Nuclear Energy presently has a consensus rating of “Moderate Buy” and an average price target of $48.67.

Nano Nuclear Energy Stock Down 7.9%

The stock has a market capitalization of $968.95 million, a PE ratio of -27.08 and a beta of 5.27. The stock’s 50 day moving average price is $25.03 and its 200-day moving average price is $26.20.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Nano Nuclear Energy

In other news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total value of $18,676,000.00. Following the sale, the insider owned 8,224,000 shares in the company, valued at $219,416,320. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of Nano Nuclear Energy stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $24.92, for a total value of $93,450.00. Following the completion of the transaction, the director owned 7,586 shares of the company’s stock, valued at approximately $189,043.12. This represents a 33.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,616,981 shares of company stock worth $43,096,346 in the last three months. Company insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NNE. Royal Bank of Canada increased its stake in Nano Nuclear Energy by 185.2% during the first quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock worth $560,000 after purchasing an additional 13,730 shares during the period. AQR Capital Management LLC acquired a new position in Nano Nuclear Energy in the first quarter valued at $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nano Nuclear Energy by 535.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock worth $385,000 after acquiring an additional 12,256 shares during the period. NewEdge Advisors LLC boosted its holdings in Nano Nuclear Energy by 385.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock valued at $51,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Creative Planning acquired a new position in Nano Nuclear Energy during the second quarter worth about $316,000.

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.