Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 9.1% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 9.1% on Monday . The stock traded as low as $25.63 and last traded at $25.64. Approximately 3,088,551 shares were traded during mid-day trading, an increase of 35% from the average daily volume of 2,284,388 shares. The stock had previously closed at $28.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NNE. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Roth Mkm began 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 target for the company. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Nano Nuclear Energy Stock Performance

The stock’s 50-day simple moving average is $25.63 and its 200 day simple moving average is $27.04. The company has a market capitalization of $1.24 billion, a PE ratio of -34.64 and a beta of 5.05.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data 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, analysts expect that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Florent Heidet sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $24.95, for a total transaction of $74,850.00. Following the sale, the chief technology officer owned 6,185 shares of the company’s stock, valued at approximately $154,315.75. This trade represents a 32.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jaisun Garcha sold 37,215 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total value of $985,453.20. Following the sale, the chief financial officer owned 345,000 shares of the company’s stock, valued at approximately $9,135,600. The trade was a 9.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,616,981 shares of company stock valued at $43,096,346 over the last 90 days. 32.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

Hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its position in shares of Nano Nuclear Energy by 275.7% during the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after buying an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Nano Nuclear Energy by 165.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after buying an additional 835 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Nano Nuclear Energy in the 1st quarter valued at $36,000. US Bancorp DE grew its position in shares of Nano Nuclear Energy by 51.9% in the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after buying an additional 400 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth $48,000.

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.