Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.5% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 3.5% during trading on Wednesday . The company traded as low as $22.46 and last traded at $23.0520. 2,581,125 shares were traded during trading, an increase of 13% from the average daily volume of 2,291,966 shares. The stock had previously closed at $23.90.

Wall Street Analysts Forecast Growth

NNE has been the topic of several research analyst reports. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, May 27th. Finally, Roth Mkm started coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They set a “buy” rating and a $45.00 target price for the company. Two 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Nano Nuclear Energy Price Performance

The firm has a market capitalization of $1.20 billion, a PE ratio of -33.41 and a beta of 5.05. The company’s fifty day simple moving average is $25.63 and its 200 day simple moving average is $27.04.

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

Insider Activity

In other news, CTO Florent Heidet sold 3,000 shares of Nano Nuclear Energy stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.95, for a total value of $74,850.00. Following the completion of the transaction, the chief technology officer directly owned 6,185 shares in the company, valued at approximately $154,315.75. The trade was a 32.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total value of $18,676,000.00. Following the sale, the insider owned 8,224,000 shares in the company, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. 32.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after purchasing an additional 486,367 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock valued at $2,854,000 after purchasing an additional 60,336 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after purchasing an additional 1,030,262 shares in the last quarter. UBS Group AG increased its holdings 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 purchasing an additional 666,722 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings 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 purchasing 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.