Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 9.7% - Should You Sell?

Key Points

• Shares fell about 9.7% intraday to $23.27 on Tuesday with ~632,441 shares traded (a 67% drop vs. average volume); the stock has a $1.22B market cap, a high beta of 7.25, a 50‑day SMA of $23.50 and a 200‑day SMA of $30.78.
• Analysts have an average rating of "Moderate Buy" with an average price target of $47, composed of 2 Strong Buy, 3 Buy, 1 Hold and 1 Sell ratings.
• There has been significant insider selling: I Financial Ventures sold 766,661 shares and the CFO sold 75,000 shares on Jan. 28, and insiders sold 2,049,664 shares worth $69.35M over the last 90 days while still owning 32.77% of the stock.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares were down 9.7% during mid-day trading on Tuesday . The company traded as low as $23.70 and last traded at $23.2730. Approximately 632,441 shares changed hands during trading, a decline of 67% from the average daily volume of 1,922,542 shares. The stock had previously closed at $25.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NNE shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Texas Capital raised shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Tuesday, January 27th. Finally, Benchmark reissued a "buy" rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Two 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.00.

Nano Nuclear Energy Trading Down 8.7%

The company has a market capitalization of $1.22 billion, a PE ratio of -21.83 and a beta of 7.25. The business's 50-day simple moving average is $23.50 and its 200-day simple moving average is $30.78.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.19. Sell-side analysts forecast that Nano Nuclear Energy Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder I Financial Ventures Group Llc sold 766,661 shares of Nano Nuclear Energy stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the completion of the transaction, the insider directly owned 8,724,000 shares of the company's stock, valued at $297,837,360. The trade was a 8.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jaisun Garcha sold 75,000 shares of Nano Nuclear Energy stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $34.04, for a total transaction of $2,553,000.00. Following the transaction, the chief financial officer directly owned 250,000 shares of the company's stock, valued at approximately $8,510,000. This trade represents a 23.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 2,049,664 shares of company stock worth $69,352,176. 32.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its stake 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 purchasing an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Nano Nuclear Energy by 165.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company's stock worth $32,000 after purchasing an additional 835 shares during the last quarter. Archer Investment Corp acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth $39,000. Tripletail Wealth Management LLC acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at about $43,000. Finally, US Bancorp DE boosted its position in shares of Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company's stock valued at $45,000 after acquiring an additional 400 shares during the last quarter.

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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