Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Down – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped down prior to trading on Tuesday . The stock had previously closed at $18.29, but opened at $17.41. Nano Nuclear Energy shares last traded at $17.54, with a volume of 282,459 shares changing hands.

Analyst Ratings Changes

NNE has been the subject of several research reports. Roth Capital started coverage on shares of Nano Nuclear Energy in a report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target for the company. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. New Street Research set a $45.00 target price on shares of Nano Nuclear Energy in a research report on Thursday, August 13th. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Truist Financial initiated coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They set a “hold” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nano Nuclear Energy presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Nano Nuclear Energy Trading Down 4.2%

The firm has a 50-day simple moving average of $18.60 and a two-hundred day simple moving average of $22.47. The company has a market capitalization of $941.36 million, a price-to-earnings ratio of -25.42 and a beta of 5.42.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.07. The firm had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.50 million. On average, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.8 earnings per share for the current year.

Insider Activity

In other news, Chairman Jiang Yu sold 700,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the chairman owned 8,224,000 shares in the company, valued at $219,416,320. This represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James John Walker sold 123,688 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.49, for a total transaction of $3,276,495.12. Following the transaction, the chief executive officer owned 555,000 shares in the company, valued at approximately $14,701,950. This trade represents a 18.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. 18.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its position in Nano Nuclear Energy by 2,602.0% during the second quarter. California State Teachers Retirement System now owns 1,012,564 shares of the company’s stock worth $21,406,000 after buying an additional 975,090 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth about $778,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Nano Nuclear Energy by 5.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,266 shares of the company’s stock worth $1,337,000 after acquiring an additional 2,993 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Nano Nuclear Energy by 26.9% during the 2nd quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock valued at $80,752,000 after acquiring an additional 810,022 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in shares of Nano Nuclear Energy during the 2nd quarter valued at about $292,000.

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.