Nano Nuclear Energy (NASDAQ:NNE) Reaches New 52-Week Low – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) reached a new 52-week low during trading on Thursday. The stock traded as low as $9.98 and last traded at $9.7220, with a volume of 236,559 shares changing hands. The stock had previously closed at $10.95.

Analyst Ratings Changes

NNE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, October 15th. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Thursday, August 13th. New Street Research set a $45.00 target price on Nano Nuclear Energy in a research note on Thursday, August 13th. Wedbush began coverage on Nano Nuclear Energy in a report on Monday. They set an “outperform” rating and a $18.00 target price for the company. Finally, Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Nano Nuclear Energy Price Performance

The stock has a market capitalization of $596.61 million, a PE ratio of -16.10 and a beta of 5.66. The business has a 50 day moving average price of $14.96 and a 200 day moving average price of $21.23.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.50 million. On average, equities analysts expect that Nano Nuclear Energy Inc. will post -0.80 earnings per share for the current year.

Insider Activity

In other news, CEO James Walker sold 25,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total value of $444,250.00. Following the completion of the sale, the chief executive officer directly owned 635,000 shares of the company’s stock, valued at $11,283,950. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is currently owned by company insiders.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Nano Nuclear Energy by 337.7% in the third quarter. Signaturefd LLC now owns 1,637 shares of the company’s stock worth $26,000 after buying an additional 1,263 shares in the last quarter. Ascentis Independent Advisors purchased a new position in shares of Nano Nuclear Energy during the first quarter valued at about $36,000. State of Wyoming bought a new stake in shares of Nano Nuclear Energy in the second quarter worth about $45,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Nano Nuclear Energy in the second quarter worth about $55,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Nano Nuclear Energy in the second quarter worth about $68,000.

Nano Nuclear Energy Company Profile

Nano Nuclear Energy Inc is a development-stage nuclear technology company focused on providing portable, scalable, and carbon-free energy solutions. The company is developing advanced microreactor technologies intended to serve applications that may be difficult or costly to support with conventional power infrastructure, including remote communities, industrial operations, data centers, and defense-related facilities.

Its reactor portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor.