Nano Nuclear Energy (NASDAQ:NNE) Trading Down 4.5% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares traded down 4.5% during trading on Monday . The company traded as low as $17.75 and last traded at $18.02. Approximately 2,006,966 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 2,314,831 shares. The stock had previously closed at $18.86.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Finally, Roth Capital initiated coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price for the company. One 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.50.

Nano Nuclear Energy Stock Performance

The company has a market cap of $938.48 million, a PE ratio of -26.12 and a beta of 5.27. The business’s 50-day moving average is $24.52 and its 200 day moving average is $25.76.

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. Equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Florent Heidet sold 3,000 shares of the stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 6,185 shares in the company, valued at $154,315.75. This represents a 32.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Seth Jason Berl sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.92, for a total value of $93,450.00. Following the transaction, the director owned 7,586 shares in the company, valued at approximately $189,043.12. The trade was a 33.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,616,981 shares of company stock worth $43,096,346 in the last 90 days. 32.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NNE. Vanguard Group Inc. boosted its position in Nano Nuclear Energy by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after buying an additional 486,367 shares during the period. JPMorgan Chase & Co. increased its position in shares of Nano Nuclear Energy by 441.3% in the third quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock valued at $2,854,000 after acquiring an additional 60,336 shares during the period. UBS Group AG raised its stake in shares of Nano Nuclear Energy by 135.7% during the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock valued at $27,805,000 after acquiring an additional 666,722 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Nano Nuclear Energy by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 346,123 shares of the company’s stock valued at $8,310,000 after acquiring an additional 47,960 shares during the last quarter. Finally, Private Wealth Partners LLC boosted its holdings in shares of Nano Nuclear Energy by 191.6% during the first quarter. Private Wealth Partners LLC now owns 38,200 shares of the company’s stock worth $782,000 after purchasing an additional 25,100 shares during the period.

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.