Nano Nuclear Energy (NASDAQ:NNE) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Nano Nuclear Energy (NASDAQ:NNE) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on NNE. Truist Financial started coverage on Nano Nuclear Energy in a research note on Monday, July 13th. They issued a “hold” rating and a $22.00 target price for the company. Roth Capital initiated coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. One equities research 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.00.

Nano Nuclear Energy Stock Down 1.0%

Shares of NNE stock opened at $16.03 on Friday. The business has a 50-day moving average price of $23.66 and a two-hundred day moving average price of $25.34. Nano Nuclear Energy has a 12-month low of $15.44 and a 12-month high of $60.87. The firm has a market cap of $834.84 million, a P/E ratio of -23.23 and a beta of 5.27.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.08. As a group, research analysts expect that Nano Nuclear Energy will post -0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nano Nuclear Energy news, Chairman Jiang Yu sold 700,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total value of $18,676,000.00. Following the completion of the sale, the chairman owned 8,224,000 shares in the company, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.92, for a total transaction of $93,450.00. Following the completion of the transaction, the director owned 7,586 shares in the company, valued at $189,043.12. This represents a 33.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,616,981 shares of company stock worth $43,096,346. 32.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after acquiring an additional 486,367 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Nano Nuclear Energy by 441.3% during the third quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock worth $2,854,000 after acquiring an additional 60,336 shares in the last quarter. UBS Group AG grew its holdings in Nano Nuclear Energy by 135.7% in the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after purchasing an additional 666,722 shares during the period. Exchange Traded Concepts LLC grew its holdings in Nano Nuclear Energy by 16.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 346,123 shares of the company’s stock worth $8,310,000 after purchasing an additional 47,960 shares during the period. Finally, Private Wealth Partners LLC grew its holdings in Nano Nuclear Energy by 191.6% in the first quarter. Private Wealth Partners LLC now owns 38,200 shares of the company’s stock worth $782,000 after purchasing an additional 25,100 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.