Nano Nuclear Energy (NASDAQ:NNE) Hits New 12-Month Low – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) reached a new 52-week low on Monday. The company traded as low as $14.66 and last traded at $14.7240, with a volume of 301,134 shares. The stock had previously closed at $15.34.

Analyst Upgrades and Downgrades

NNE has been the subject of several research analyst reports. Northland Securities set a $37.00 price target on shares of Nano Nuclear Energy in a report on Friday, August 14th. Needham & Company LLC began coverage on Nano Nuclear Energy in a report on Monday, September 21st. They set a “buy” rating and a $33.00 price objective on the stock. New Street Research set a $45.00 price objective on Nano Nuclear Energy in a report on Thursday, August 13th. Alliance Global Partners began coverage on Nano Nuclear Energy in a research report on Monday, July 27th. They set a “buy” rating and a $46.00 price objective on the stock. 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 equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.14.

Nano Nuclear Energy Stock Up 0.4%

The company has a 50 day moving average price of $17.37 and a 200-day moving average price of $20.77.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. Analysts expect that Nano Nuclear Energy Inc. will post -0.80 EPS for the current fiscal year.

Insider Activity

In other news, CEO James Walker sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total transaction of $444,250.00. Following the completion of the transaction, the chief executive officer owned 635,000 shares of the company’s stock, valued at approximately $11,283,950. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 18.61% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Nano Nuclear Energy by 26.9% in the second quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock worth $80,752,000 after acquiring an additional 810,022 shares during the period. BlackRock Inc. bought a new stake in Nano Nuclear Energy in the second quarter valued at approximately $73,826,000. Lido Advisors LLC boosted its holdings in Nano Nuclear Energy by 1,769.6% in the first quarter. Lido Advisors LLC now owns 171,932 shares of the company’s stock valued at $3,521,000 after acquiring an additional 162,736 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Nano Nuclear Energy during the 2nd quarter valued at approximately $2,814,000. Finally, Cetera Investment Advisers increased its position in Nano Nuclear Energy by 7.0% during the 1st quarter. Cetera Investment Advisers now owns 109,000 shares of the company’s stock valued at $2,232,000 after purchasing an additional 7,166 shares during the period.

Nano Nuclear Energy Company Profile

Nano Nuclear Energy, Inc is an advanced nuclear energy technology company developing portable microreactors and related nuclear-fuel capabilities. The company’s objective is to provide compact, transportable power systems for applications that may not be well served by conventional nuclear plants or electrical grids.

Its principal reactor concepts include ZEUS, a solid-core battery reactor designed for off-grid power generation, and ODIN, a molten-salt reactor concept intended to produce electricity and industrial heat.