Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 6.2% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 6.2% during mid-day trading on Wednesday . The stock traded as low as $27.10 and last traded at $27.2570. 970,671 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 2,069,012 shares. The stock had previously closed at $29.07.

Analyst Upgrades and Downgrades

Several brokerages have commented on NNE. Texas Capital upgraded shares of Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Price Performance

The firm’s fifty day moving average price is $23.68 and its 200-day moving average price is $28.05. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -40.05 and a beta of 5.15.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.08. On average, research analysts predict that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current year.

Insider Buying and Selling

In other Nano Nuclear Energy news, Director Seth Jason Berl sold 3,664 shares of Nano Nuclear Energy stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $27.69, for a total transaction of $101,456.16. Following the transaction, the director directly owned 3,836 shares of the company’s stock, valued at approximately $106,218.84. The trade was a 48.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in shares of Nano Nuclear Energy by 24.7% in the fourth 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 stake in shares of Nano Nuclear Energy by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after buying an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Nano Nuclear Energy by 11,676.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after buying 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 about $38,224,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $38,224,000.

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.