Nano Nuclear Energy (NASDAQ:NNE) Trading Down 9.3% - Should You Sell?

Key Points

• Shares fell 9.3% to $19.50 on Tuesday with 406,302 shares traded (down ~78% vs. average), trading well below its 50‑day ($24.91) and 200‑day ($32.98) moving averages.
• Significant insider selling: Chairman Jiang Yu sold 766,661 shares and the CFO sold 75,000 on Jan. 28, and insiders have sold 2,049,664 shares worth $69.35M over the past 90 days while still owning 32.77% of the company.
• Mixed analyst outlook but bullish consensus: two analysts rate "Strong Buy", three "Buy", one "Hold" and one "Sell", yielding a MarketBeat average rating of "Moderate Buy" and a consensus price target of $47.00.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price fell 9.3% on Tuesday . The company traded as low as $19.51 and last traded at $19.5030. 406,302 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,841,348 shares. The stock had previously closed at $21.51.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NNE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Thursday, January 22nd. Benchmark reiterated a "buy" rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Finally, Texas Capital upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.00.

Nano Nuclear Energy Trading Down 8.1%

The firm's 50-day moving average is $24.91 and its two-hundred day moving average is $32.98. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -18.33 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.19. On average, analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Insider Activity

In related news, Chairman Jiang Yu sold 766,661 shares of the company's stock in a transaction dated 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 sale, the chairman owned 8,724,000 shares of the company's stock, valued at approximately $297,837,360. This represents a 8.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jaisun Garcha sold 75,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 250,000 shares of the company's stock, valued at approximately $8,510,000. This represents a 23.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,049,664 shares of company stock worth $69,352,176. Company insiders own 32.77% of the company's stock.

Institutional Trading of Nano Nuclear Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in shares of Nano Nuclear Energy by 64.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 298,163 shares of the company's stock worth $11,497,000 after buying an additional 116,387 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Nano Nuclear Energy by 549.0% during the 3rd quarter. SG Americas Securities LLC now owns 33,408 shares of the company's stock worth $1,288,000 after purchasing an additional 28,260 shares during the period. Van ECK Associates Corp boosted its position in shares of Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company's stock worth $100,190,000 after purchasing an additional 1,030,262 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company's stock worth $2,854,000 after purchasing an additional 60,336 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Nano Nuclear Energy by 40.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company's stock worth $68,547,000 after purchasing an additional 516,129 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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