Nano Nuclear Energy (NASDAQ:NNE) Trading Down 2.2% - Here's Why

Key Points

• Nano Nuclear Energy shares fell 2.2% on Friday, trading as low as $18.57 after closing at $19.29 the previous day. Trading volume was also lighter than usual, coming in about 40% below the average session volume.
• Analyst sentiment remains mixed but overall constructive, with the stock carrying a “Moderate Buy” consensus and an average price target of $47.50. Recent calls included a new Buy rating from Roth Capital, a Buy from Benchmark, and a downgrade from Wall Street Zen to Sell.
• Recent filings showed notable insider selling, including sales by Director Seth Jason Berl and CFO Jaisun Garcha. In the last three months, insiders sold 1.62 million shares worth about $43.1 million.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price fell 2.2% on Friday . The stock traded as low as $18.57 and last traded at $18.86. 1,386,720 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 2,318,862 shares. The stock had previously closed at $19.29.

Analyst Ratings Changes

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

Nano Nuclear Energy Trading Down 2.2%

The company's fifty day moving average is $24.59 and its two-hundred day moving average is $25.86. The stock has a market cap of $982.23 million, a price-to-earnings ratio of -27.33 and a beta of 5.27.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) 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 Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,750 shares of Nano Nuclear Energy stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $24.92, for a total value of $93,450.00. Following the completion of the transaction, the director directly owned 7,586 shares of the company's stock, valued at $189,043.12. The trade was a 33.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jaisun Garcha sold 37,215 shares of Nano Nuclear Energy stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the completion of the transaction, the chief financial officer directly owned 345,000 shares of the company's stock, valued at approximately $9,135,600. This represents a 9.74% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 1,616,981 shares of company stock worth $43,096,346. 32.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in Nano Nuclear Energy by 24.7% in the 4th quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company's stock valued at $77,825,000 after buying an additional 643,070 shares during the period. Vanguard Group Inc. increased its position in shares of Nano Nuclear Energy by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company's stock worth $54,360,000 after acquiring an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nano Nuclear Energy by 11,676.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company's stock worth $66,564,000 after acquiring an additional 1,711,592 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at $38,224,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at $38,224,000.

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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