Nano Nuclear Energy (NASDAQ:NNE) Sets New 12-Month Low - Should You Sell?

Key Points

• Nano Nuclear Energy shares fell to a new 52-week low of $14.66, below their 50-day and 200-day moving averages, with the stock carrying a high beta of 5.49.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating with an average price target of $38.14, although ratings range from Strong Buy to Sell.
• The company beat quarterly EPS expectations but reported revenue below forecasts, while CEO James Walker sold 25,000 shares under a pre-arranged trading plan.

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $14.66 and last traded at $14.7240, with a volume of 301,134 shares traded. The stock had previously closed at $15.34.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Roth Capital initiated coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a "buy" rating and a $45.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Nuclear Energy in a research note on Friday, July 17th. Benchmark reiterated a "buy" rating on shares of Nano Nuclear Energy in a report on Thursday, August 13th. New Street Research set a $45.00 target price on Nano Nuclear Energy in a report on Thursday, August 13th. Finally, Needham & Company LLC began coverage on Nano Nuclear Energy in a research note on Monday, September 21st. They issued a "buy" rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.14.

Nano Nuclear Energy Stock Performance

The stock has a market cap of $780.69 million, a price-to-earnings ratio of -21.13 and a beta of 5.49. The business has a 50-day simple moving average of $17.51 and a two-hundred day simple moving average of $20.87.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. On average, analysts expect that Nano Nuclear Energy Inc. will post -0.80 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO James Walker sold 25,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total value of $444,250.00. Following the completion of the transaction, the chief executive officer owned 635,000 shares of the company's stock, valued at approximately $11,283,950. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 18.61% of the company's stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pine Valley Investments Ltd Liability Co raised its holdings in Nano Nuclear Energy by 7.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company's stock worth $211,000 after acquiring an additional 720 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Nano Nuclear Energy by 4.3% during the first quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company's stock valued at $390,000 after purchasing an additional 793 shares during the last quarter. Leonteq Securities AG boosted its position in Nano Nuclear Energy by 15.4% during the first quarter. Leonteq Securities AG now owns 7,504 shares of the company's stock valued at $154,000 after purchasing an additional 1,004 shares during the last quarter. Ascentis Independent Advisors bought a new position in Nano Nuclear Energy in the first quarter valued at approximately $36,000. Finally, State of Wyoming bought a new position in Nano Nuclear Energy in the second quarter valued at approximately $45,000.

About Nano Nuclear Energy

Nano Nuclear Energy, Inc is an advanced nuclear energy technology company developing portable microreactors and related nuclear-fuel capabilities. The company's objective is to provide compact, transportable power systems for applications that may not be well served by conventional nuclear plants or electrical grids.

Its principal reactor concepts include ZEUS, a solid-core battery reactor designed for off-grid power generation, and ODIN, a molten-salt reactor concept intended to produce electricity and industrial heat.

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