Nano Nuclear Energy (NASDAQ:NNE) Downgraded to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Nano Nuclear Energy from “sell” to “strong sell”, adding a bearish note to the stock’s mixed analyst picture. Despite that, MarketBeat says the overall consensus remains a Moderate Buy with an average price target of $39.00.
• The stock was down 1.0% and opened at $16.03, near its 12-month low of $15.44 and well below its 12-month high of $60.87. Nano Nuclear Energy also has a high beta of 5.27, indicating significant volatility.
• Recent insider selling stood out, including large sales by CFO Jaisun Garcha and Chairman Jiang Yu executed under Rule 10b5-1 plans. The company still beat its latest earnings estimate, reporting EPS of -$0.18 versus expectations of -$0.26.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday.

A number of other research analysts also recently commented on the stock. Benchmark reissued a "buy" rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. Truist Financial began coverage on shares of Nano Nuclear Energy in a research report on Monday. They issued a "hold" rating and a $22.00 price target for the company. Roth Capital initiated coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a "buy" rating and a $45.00 price objective on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Nano Nuclear Energy Trading Down 1.0%

NNE opened at $16.03 on Friday. Nano Nuclear Energy has a 12-month low of $15.44 and a 12-month high of $60.87. The business's fifty day simple moving average is $23.66 and its 200-day simple moving average is $25.34. The company has a market capitalization of $834.84 million, a price-to-earnings ratio of -23.23 and a beta of 5.27.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings results 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, equities research analysts predict that Nano Nuclear Energy will post -0.93 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jaisun Garcha sold 37,215 shares of Nano Nuclear Energy stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the transaction, the chief financial officer owned 345,000 shares of the company's stock, valued at $9,135,600. The trade was a 9.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. 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. Insiders sold a total of 1,616,981 shares of company stock valued at $43,096,346 in the last three months. 32.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Nano Nuclear Energy by 185.2% in the first quarter. Royal Bank of Canada now owns 21,143 shares of the company's stock worth $560,000 after purchasing an additional 13,730 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy in the 1st quarter worth $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nano Nuclear Energy by 535.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company's stock worth $385,000 after purchasing an additional 12,256 shares in the last quarter. NewEdge Advisors LLC grew its stake in Nano Nuclear Energy by 385.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,914 shares of the company's stock worth $51,000 after buying an additional 1,520 shares during the last quarter. Finally, Creative Planning purchased a new position in Nano Nuclear Energy during the 2nd quarter worth $316,000.

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.

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