Nano Nuclear Energy (NASDAQ:NNE) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Nano Nuclear Energy (NASDAQ:NNE) from a sell rating to a strong sell rating in a research report released on Saturday.

Several other equities analysts have also weighed in on the company. Truist Financial began coverage on Nano Nuclear Energy in a report on Monday, July 13th. They set a “hold” rating and a $22.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. Finally, Roth Capital assumed coverage on Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nano Nuclear Energy has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Nano Nuclear Energy Stock Up 2.4%

NNE opened at $16.41 on Friday. The stock has a market cap of $854.63 million, a price-to-earnings ratio of -23.78 and a beta of 5.27. Nano Nuclear Energy has a twelve month low of $15.44 and a twelve month high of $60.87. The company’s 50-day moving average price is $23.42 and its two-hundred day moving average price is $25.28.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.08. As a group, sell-side analysts anticipate that Nano Nuclear Energy will post -0.93 earnings per share for the current year.

Insider Activity at Nano Nuclear Energy

In related news, CFO Jaisun Garcha sold 37,215 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total transaction of $985,453.20. Following the sale, the chief financial officer directly owned 345,000 shares in the company, valued at approximately $9,135,600. This represents a 9.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.92, for a total transaction of $93,450.00. Following the completion of the transaction, the director directly owned 7,586 shares of the company’s stock, valued at approximately $189,043.12. This trade represents a 33.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,616,981 shares of company stock worth $43,096,346 in the last ninety days. Insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nano Nuclear Energy by 11,676.8% in 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 Nano Nuclear Energy during the 4th quarter worth approximately $38,224,000. Ghisallo Capital Management LLC bought a new stake in Nano Nuclear Energy during the 4th quarter worth approximately $38,224,000. Regal Partners Ltd purchased a new stake in Nano Nuclear Energy in the 4th quarter worth approximately $23,535,000. Finally, UBS Group AG lifted its stake in Nano Nuclear Energy by 135.7% in the 4th quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after purchasing an additional 666,722 shares in the last quarter.

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.