Nano Nuclear Energy (NASDAQ:NNE) Upgraded by Wall Street Zen to "Sell" Rating

Key Points

• Wall Street Zen upgraded Nano Nuclear Energy from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $39.
• NNE shares opened at $19.66, well below their 52-week high of $60.87; the company has a $1.06 billion market capitalization and reported a quarterly loss of $0.19 per share, ahead of estimates, but revenue of $0.21 million missed expectations.
• Insiders sold 1.62 million shares worth approximately $43.1 million over the past 90 days, including substantial sales by the CTO and a major shareholder, while several institutional investors increased their positions.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday.

Other analysts have also recently issued research reports about the stock. New Street Research set a $45.00 target price on shares of Nano Nuclear Energy in a research note on Thursday. Roth Capital started coverage on shares of Nano Nuclear Energy in a report on Wednesday, June 17th. They set a "buy" rating and a $45.00 price target for the company. Benchmark restated a "buy" rating on shares of Nano Nuclear Energy in a research report on Thursday. Truist Financial initiated coverage on shares of Nano Nuclear Energy in a research report on Monday, July 13th. They issued a "hold" rating and a $22.00 price objective for the company. Finally, Alliance Global Partners assumed coverage on Nano Nuclear Energy in a research report on Monday, July 27th. They set a "buy" rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nano Nuclear Energy presently has an average rating of "Moderate Buy" and an average price target of $39.00.

Nano Nuclear Energy Price Performance

Shares of NASDAQ NNE opened at $19.66 on Friday. The stock has a fifty day moving average price of $19.99 and a 200 day moving average price of $23.39. Nano Nuclear Energy has a 1-year low of $14.71 and a 1-year high of $60.87. The company has a market cap of $1.06 billion, a PE ratio of -28.49 and a beta of 5.42.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.07. The firm had revenue of $0.21 million during the quarter, compared to analysts' expectations of $0.50 million. Analysts anticipate that Nano Nuclear Energy will post -0.93 earnings per share for the current fiscal year.

Insider Activity at Nano Nuclear Energy

In other Nano Nuclear Energy news, CTO Florent Heidet sold 3,000 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.95, for a total transaction of $74,850.00. Following the sale, the chief technology officer directly owned 6,185 shares in the company, valued at approximately $154,315.75. The trade was a 32.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the insider directly owned 8,224,000 shares in the company, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,616,981 shares of company stock worth $43,096,346. 18.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of Nano Nuclear Energy by 185.2% during the first quarter. Royal Bank of Canada now owns 21,143 shares of the company's stock worth $560,000 after purchasing an additional 13,730 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Nano Nuclear Energy in the first quarter valued at $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nano Nuclear Energy by 535.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company's stock valued at $385,000 after purchasing an additional 12,256 shares during the last quarter. NewEdge Advisors LLC increased its stake in Nano Nuclear Energy by 385.8% in the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company's stock valued at $51,000 after purchasing an additional 1,520 shares during the last quarter. Finally, Creative Planning purchased a new position in Nano Nuclear Energy during the second quarter worth about $316,000.

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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