Nano Nuclear Energy (NASDAQ:NNE) Trading Down 9.1% – Time to Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 9.1% during trading on Monday . The stock traded as low as $25.63 and last traded at $25.64. Approximately 3,088,551 shares changed hands during trading, an increase of 35% from the average session volume of 2,284,388 shares. The stock had previously closed at $28.21.

Analysts Set New Price Targets

Several research firms recently commented on NNE. Roth Mkm initiated coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price objective on the stock. Weiss Ratings reaffirmed 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 research report on Wednesday, May 27th. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Nano Nuclear Energy Stock Down 9.1%

The business’s 50 day simple moving average is $25.48 and its 200 day simple moving average is $27.17. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -37.16 and a beta of 5.06.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. Equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 8,224,000 shares of the company’s stock, valued at $219,416,320. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the business’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 sale, the director owned 7,586 shares of the company’s stock, valued at approximately $189,043.12. This represents a 33.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,616,981 shares of company stock worth $43,096,346 in the last 90 days. Corporate insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE increased its holdings in 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 during the period. Harbour Investments Inc. lifted its holdings in Nano Nuclear Energy by 275.7% during 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 period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at about $48,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of 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 buying an additional 835 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of Nano Nuclear Energy in the first quarter valued at about $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.