Nano Nuclear Energy (NASDAQ:NNE) Shares Down 5.8% - Here's Why

Key Points

• Nano Nuclear Energy shares fell 5.8% to $15.99, with trading volume down 85% from the average. The stock has a market capitalization of approximately $848.7 million and remains well below its 200-day moving average.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $39.00, despite one analyst maintaining a sell rating.
• The company beat quarterly EPS expectations, reporting a loss of $0.19 per share versus the projected $0.26 loss, but revenue of $0.21 million fell short of the $0.50 million estimate. CEO James Walker also sold 25,000 shares under a pre-arranged trading plan.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price traded down 5.8% during trading on Friday . The stock traded as low as $16.17 and last traded at $15.99. 324,542 shares changed hands during trading, a decline of 85% from the average daily volume of 2,189,379 shares. The stock had previously closed at $16.97.

Analyst Upgrades and Downgrades

NNE has been the subject of a number of analyst reports. Roth Capital assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a "buy" rating and a $45.00 target price for the company. New Street Research set a $45.00 target price on Nano Nuclear Energy in a report on Thursday, August 13th. Benchmark reiterated a "buy" rating on shares of Nano Nuclear Energy in a report on Thursday, August 13th. Northland Securities set a $37.00 price objective on shares of Nano Nuclear Energy in a report on Friday, August 14th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.00.

Nano Nuclear Energy Stock Down 6.9%

The stock has a market cap of $848.67 million, a price-to-earnings ratio of -22.92 and a beta of 5.41. The business's 50 day simple moving average is $17.71 and its 200 day simple moving average is $21.70.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.07. The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. Equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Nano Nuclear Energy

In other news, CEO James Walker sold 25,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 635,000 shares of the company's stock, valued at approximately $11,283,950. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 18.61% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NNE. Engineers Gate Manager LP bought a new stake in Nano Nuclear Energy during the second quarter worth $302,000. Integrated Wealth Concepts LLC bought a new position in shares of Nano Nuclear Energy in the second quarter worth about $289,000. Ameritas Advisory Services LLC acquired a new stake in Nano Nuclear Energy in the second quarter valued at approximately $778,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Nano Nuclear Energy by 5.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,266 shares of the company's stock worth $1,337,000 after buying an additional 2,993 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Nano Nuclear Energy by 26.9% during the second quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company's stock worth $80,752,000 after buying an additional 810,022 shares during the last quarter.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc is an advanced nuclear energy company focused on developing portable microreactors and related nuclear fuel and transportation capabilities. The company is pursuing reactor systems designed to provide reliable, carbon-free power for applications that may be difficult or costly to serve with traditional grid infrastructure.

Its product development portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor. The company is also developing the KRONOS micro modular reactor, while pursuing capabilities related to nuclear fuel fabrication, transportation and other supporting services.

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