Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.3% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price was down 4.3% during trading on Tuesday . The stock traded as low as $23.91 and last traded at $24.01. 1,732,217 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 2,226,429 shares. The stock had previously closed at $25.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NNE. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Monday, June 8th. Finally, Roth Mkm assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday. They issued a “buy” rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.50.

Nano Nuclear Energy Stock Up 11.5%

The business has a 50-day moving average price of $25.20 and a two-hundred day moving average price of $27.22. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -40.88 and a beta of 5.05.

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 the consensus estimate of ($0.26) by $0.08. On average, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -1.02 EPS for the current fiscal 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 on Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the completion of the sale, the chief financial officer owned 345,000 shares in the company, valued at approximately $9,135,600. This represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a 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, Chairman Jiang Yu sold 700,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total value of $18,676,000.00. Following the sale, the chairman owned 8,224,000 shares of the company’s stock, valued at $219,416,320. This trade represents a 7.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock valued at $43,096,346 over the last 90 days. Corporate insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Harbour Investments Inc. boosted its stake in shares of Nano Nuclear Energy by 275.7% in the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Nano Nuclear Energy by 165.7% in the 4th 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. Ascentis Independent Advisors bought a new position in Nano Nuclear Energy in the 1st quarter valued at $36,000. US Bancorp DE increased its position in shares of Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at $48,000.

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.