Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1.8% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was down 1.8% on Wednesday . The company traded as low as $20.51 and last traded at $20.75. 2,252,709 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 2,321,220 shares. The stock had previously closed at $21.14.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NNE shares. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Roth Mkm began 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 for the company. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Two 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 issued a Sell rating to the company. According to data from MarketBeat.com, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Nano Nuclear Energy Price Performance

The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -30.07 and a beta of 5.05. The stock’s 50 day simple moving average is $25.35 and its two-hundred day simple moving average is $26.52.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.95 earnings per share 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 firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $24.92, for a total transaction of $93,450.00. Following the completion of the transaction, the director owned 7,586 shares in the company, valued at $189,043.12. This trade represents a 33.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of Nano Nuclear Energy stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total value of $18,676,000.00. Following the sale, the insider directly owned 8,224,000 shares in the company, valued at $219,416,320. The trade was a 7.84% 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. Over the last three months, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. Corporate insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nano Nuclear Energy by 11,676.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after acquiring an additional 1,711,592 shares during the period. Weiss Asset Management LP bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $38,224,000. Ghisallo Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter worth about $38,224,000. Van ECK Associates Corp increased its position in shares of Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after purchasing an additional 1,030,262 shares in the last quarter. Finally, Regal Partners Ltd bought a new position in Nano Nuclear Energy during the 4th quarter valued at about $23,535,000.

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.