Nano Nuclear Energy (NASDAQ:NNE) Hits New 52-Week Low – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) hit a new 52-week low on Monday . The stock traded as low as $18.02 and last traded at $18.1750, with a volume of 190430 shares changing hands. The stock had previously closed at $18.86.

Analyst Ratings Changes

Several analysts have issued reports on NNE shares. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th. Roth Capital began coverage on Nano Nuclear Energy in a report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price objective for the company. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.50.

Nano Nuclear Energy Price Performance

The business’s fifty day moving average price is $24.52 and its 200-day moving average price is $25.76. The stock has a market capitalization of $965.04 million, a PE ratio of -26.88 and a beta of 5.27.

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

Insider Transactions at Nano Nuclear Energy

In related news, Chairman Jiang Yu sold 700,000 shares of Nano Nuclear Energy stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the sale, the chairman owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a 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. Also, CEO James John Walker sold 123,688 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.49, for a total value of $3,276,495.12. Following the transaction, the chief executive officer owned 555,000 shares of the company’s stock, valued at approximately $14,701,950. The trade was a 18.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,616,981 shares of company stock worth $43,096,346. 32.77% of the stock is owned by corporate insiders.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE boosted 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 acquiring an additional 400 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Nano Nuclear Energy by 275.7% in the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 863 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Nano Nuclear Energy in the third quarter worth approximately $48,000. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 in the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in Nano Nuclear Energy in the first quarter valued at approximately $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.