Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 12.2% - Should You Sell?

Key Points

• Shares of Nano Nuclear Energy fell 12.2% to about $30.32 on Thursday, with intraday volume (~962,745 shares) roughly 54% below the average and trading below its 50‑ and 200‑day moving averages.
• Analysts are mixed but the consensus is a Moderate Buy with a headline target price of $47.00, spanning ratings from Strong Buy to Sell.
• Insider sales are significant: the chairman and a major shareholder each sold 378,474 shares on Dec. 24, insiders sold 1,936,000 shares (~$56.4M) in the last quarter, and insiders still hold ~32.77% of the stock.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares dropped 12.2% during trading on Thursday . The company traded as low as $30.52 and last traded at $30.3190. Approximately 962,745 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 2,104,855 shares. The stock had previously closed at $34.55.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Benchmark reaffirmed a "buy" rating on shares of Nano Nuclear Energy in a report on Friday, December 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Thursday, January 22nd. Finally, Texas Capital upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $47.00.

Nano Nuclear Energy Trading Down 7.7%

The stock's 50-day moving average is $32.22 and its 200-day moving average is $36.38. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -30.76 and a beta of 7.48.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.14. On average, equities analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other news, major shareholder I Financial Ventures Group Llc sold 378,474 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $30.14, for a total value of $11,407,206.36. Following the completion of the transaction, the insider owned 9,621,526 shares of the company's stock, valued at approximately $289,992,793.64. This represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Jiang Yu sold 378,474 shares of the company's stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $30.14, for a total transaction of $11,407,206.36. Following the completion of the sale, the chairman directly owned 9,621,526 shares of the company's stock, valued at $289,992,793.64. The trade was a 3.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,936,000 shares of company stock worth $56,375,077 in the last quarter. 32.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of Nano Nuclear Energy by 9,043.7% in the 2nd quarter. Allworth Financial LP now owns 10,881 shares of the company's stock worth $375,000 after acquiring an additional 10,762 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Nano Nuclear Energy by 64.0% in the third quarter. Exchange Traded Concepts LLC now owns 298,163 shares of the company's stock valued at $11,497,000 after buying an additional 116,387 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of Nano Nuclear Energy during the 2nd quarter worth about $544,000. SG Americas Securities LLC lifted its holdings in Nano Nuclear Energy by 549.0% during the third quarter. SG Americas Securities LLC now owns 33,408 shares of the company's stock worth $1,288,000 after acquiring an additional 28,260 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in Nano Nuclear Energy during the 2nd quarter worth approximately $31,935,000.

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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