Nano Nuclear Energy (NASDAQ:NNE) Hits New 12-Month Low - Should You Sell?

Key Points

• Nano Nuclear Energy hit a new 52-week low, trading as low as $18.02, and was down about 1.7% on the day. The stock remains well below its 50-day and 200-day moving averages.
• Despite the weak share performance, Wall Street’s outlook is still moderately bullish, with a consensus rating of “Moderate Buy” and an average price target of $47.50. Recent analyst notes were mixed, including buy ratings from Roth Capital and Benchmark alongside a sell rating from Weiss.
• Insider selling has been significant, including major stock sales by CEO James John Walker and Chairman Jiang Yu under pre-arranged trading plans. The company also reported a smaller-than-expected quarterly loss, but analysts still expect a full-year loss.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $18.02 and last traded at $18.1750, with a volume of 190430 shares. The stock had previously closed at $18.86.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen upgraded Nano Nuclear Energy from a "strong sell" rating to a "sell" rating in a research note on Wednesday, June 24th. Roth Capital initiated coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a "buy" rating and a $45.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Finally, Benchmark reissued a "buy" rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nano Nuclear Energy presently has a consensus rating of "Moderate Buy" and an average price target of $47.50.

Nano Nuclear Energy Stock Down 1.7%

The business's 50-day moving average is $24.52 and its two-hundred day moving average is $25.76. The company has a market capitalization of $965.04 million, a P/E ratio of -26.88 and a beta of 5.27.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.08. Analysts predict that Nano Nuclear Energy Inc. will post -0.95 EPS for the current year.

Insider Buying and Selling

In other Nano Nuclear Energy news, CEO James John Walker sold 123,688 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.49, for a total value of $3,276,495.12. Following the transaction, the chief executive officer owned 555,000 shares of the company's stock, valued at approximately $14,701,950. The trade was a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 company'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 completion of the transaction, the chairman owned 8,224,000 shares of the company's stock, valued at $219,416,320. This trade represents a 7.84% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last quarter. Corporate insiders own 32.77% of the company's stock.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in Nano Nuclear Energy by 29.9% during the first quarter. Pacer Advisors Inc. now owns 101,974 shares of the company's stock valued at $2,088,000 after buying an additional 23,484 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in Nano Nuclear Energy by 7.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company's stock valued at $211,000 after acquiring an additional 720 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Nano Nuclear Energy in the first quarter valued at about $246,000. The Manufacturers Life Insurance Company grew its position in shares of Nano Nuclear Energy by 4.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company's stock valued at $390,000 after acquiring an additional 793 shares during the period. Finally, Themes Management Co LLC grew its position in shares of Nano Nuclear Energy by 102.8% during the 1st quarter. Themes Management Co LLC now owns 24,449 shares of the company's stock valued at $501,000 after acquiring an additional 12,396 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.

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