Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Down – Time to Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) 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 traded.

Analyst Upgrades and Downgrades

NNE has been the topic of a number of research reports. New Street Research set a $45.00 price objective on Nano Nuclear Energy in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Roth Capital started coverage on shares of Nano Nuclear Energy in a report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Truist Financial began coverage on shares of Nano Nuclear Energy in a research note on Monday, July 13th. They issued a “hold” rating and a $22.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three 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 MarketBeat.com, Nano Nuclear Energy currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Nano Nuclear Energy Price Performance

The company has a market cap of $944.58 million, a P/E ratio of -25.49 and a beta of 5.41. The business’s 50 day moving average price is $18.36 and its 200-day moving average price is $22.36.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.07. The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, research analysts forecast that Nano Nuclear Energy Inc. will post -0.8 EPS for the current year.

Insider Activity

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,750 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $24.92, for a total transaction of $93,450.00. Following the transaction, the director owned 7,586 shares in the company, valued at approximately $189,043.12. This trade represents a 33.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Florent Heidet sold 3,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $24.95, for a total transaction of $74,850.00. Following the completion of the sale, the chief technology officer owned 6,185 shares in the company, valued at $154,315.75. This represents a 32.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 18.61% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds have recently modified their holdings of NNE. Harbour Investments Inc. boosted its holdings 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 valued at $28,000 after buying an additional 863 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of Nano Nuclear Energy in the 1st quarter valued at about $36,000. State of Wyoming acquired a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at about $45,000. US Bancorp DE lifted its holdings in shares of Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $48,000.

Nano Nuclear Energy Company Profile

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.