Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.5% - Here's Why

Key Points

• Nano Nuclear Energy shares fell 4.5% on Monday, trading as low as $17.75 before closing at $18.02, with volume below its average daily level.
• Analyst sentiment remains mixed but generally positive: the stock carries a Moderate Buy consensus and a $47.50 target price, though some firms have recently issued or maintained sell ratings.
• The company reported a smaller-than-expected quarterly loss of ($0.18) per share, but recent insider selling was notable, including CEO James John Walker and major shareholder I Financial Ventures Group LLC reducing their stakes.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares were down 4.5% during trading on Monday . The stock traded as low as $17.75 and last traded at $18.02. 2,006,966 shares changed hands 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

NNE has been the subject of a number of recent research reports. Benchmark reiterated a "buy" rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Wall Street Zen upgraded Nano Nuclear Energy from a "strong sell" rating to a "sell" rating in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Finally, Roth Capital assumed coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a "buy" rating and a $45.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Nano Nuclear Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

Nano Nuclear Energy Price Performance

The firm's 50 day moving average is $24.52 and its 200 day moving average is $25.76. The company has a market cap of $938.48 million, a PE ratio of -26.12 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. As a group, analysts anticipate that Nano Nuclear Energy Inc. will post -0.95 EPS for the current year.

Insider Buying and Selling at Nano Nuclear Energy

In other Nano Nuclear Energy news, CEO James John Walker sold 123,688 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 555,000 shares of the company's stock, valued at $14,701,950. This trade represents a 18.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of Nano Nuclear Energy 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 sale, the insider 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,616,981 shares of company stock valued at $43,096,346 over the last 90 days. Insiders own 32.77% of the company's stock.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently bought and sold shares of NNE. Van ECK Associates Corp lifted its position in Nano Nuclear Energy by 24.7% during the fourth quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company's stock valued at $77,825,000 after purchasing an additional 643,070 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 486,367 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company's stock worth $66,564,000 after buying an additional 1,711,592 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at $38,224,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Nano Nuclear Energy during the 4th quarter worth $38,224,000.

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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