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

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $15.24 and last traded at $15.4340, with a volume of 533297 shares traded. The stock had previously closed at $16.79.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial initiated coverage on shares of Nano Nuclear Energy in a research report on Monday, July 13th. They set a “hold” rating and a $22.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Wall Street Zen downgraded shares of Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Finally, Alliance Global Partners assumed coverage on Nano Nuclear Energy in a research report on Monday. They set a “buy” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.75.

Nano Nuclear Energy Stock Down 7.3%

The firm has a market capitalization of $775.00 million, a price-to-earnings ratio of -21.57 and a beta of 5.27. The stock’s 50-day moving average price is $22.17 and its 200 day moving average price is $24.66.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results 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. On average, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Florent Heidet sold 3,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.95, for a total value of $74,850.00. Following the transaction, the chief technology officer owned 6,185 shares of the company’s stock, valued at $154,315.75. This represents a 32.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Seth Jason Berl sold 3,750 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $24.92, for a total value of $93,450.00. Following the sale, the director directly owned 7,586 shares of the company’s stock, valued at $189,043.12. The trade was a 33.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. 32.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors have recently made changes to their positions in NNE. US Bancorp DE lifted its holdings in shares of Nano Nuclear Energy by 51.9% in the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after acquiring an additional 400 shares during the last quarter. Harbour Investments Inc. raised its position in Nano Nuclear Energy by 275.7% in the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 863 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Nano Nuclear Energy in the third quarter valued at approximately $48,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Nano Nuclear Energy by 165.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 835 shares during the period. Finally, Ascentis Independent Advisors acquired a new position in Nano Nuclear Energy during the first quarter worth $36,000.

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.