Nano Nuclear Energy (NASDAQ:NNE) Sets New 52-Week Low – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $18.34 and last traded at $18.4390, with a volume of 763640 shares traded. The stock had previously closed at $20.19.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Roth Capital began coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.67.

Nano Nuclear Energy Stock Performance

The company has a market cap of $987.44 million, a price-to-earnings ratio of -27.48 and a beta of 5.27. The company has a fifty day moving average of $24.68 and a two-hundred day moving average of $25.96.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. Equities analysts expect that Nano Nuclear Energy Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Nano Nuclear Energy news, CEO James John Walker sold 123,688 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.49, for a total value of $3,276,495.12. Following the completion of the transaction, the chief executive officer directly owned 555,000 shares in the company, valued at approximately $14,701,950. This represents a 18.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $189,043.12. This trade represents a 33.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,616,981 shares of company stock valued at $43,096,346 over the last three months. Insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after buying an additional 486,367 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Nano Nuclear Energy by 441.3% during the third quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock worth $2,854,000 after acquiring an additional 60,336 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Nano Nuclear Energy by 65.7% during the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after acquiring an additional 1,030,262 shares during the last quarter. UBS Group AG lifted its stake in shares of Nano Nuclear Energy by 135.7% in the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after acquiring an additional 666,722 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Nano Nuclear Energy by 16.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 346,123 shares of the company’s stock worth $8,310,000 after acquiring an additional 47,960 shares during the period.

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.