Nano Nuclear Energy (NASDAQ:NNE) Reaches New 1-Year Low – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.02 and last traded at $18.1750, with a volume of 190430 shares changing hands. The stock had previously closed at $18.86.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NNE. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. Truist Financial began coverage on Nano Nuclear Energy in a research note on Monday. They set a “hold” rating and a $22.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a 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 Wednesday, June 24th. Finally, Roth Capital 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 objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Nano Nuclear Energy Trading Up 0.7%

The stock has a fifty day simple moving average of $24.32 and a two-hundred day simple moving average of $25.58. The company has a market cap of $944.79 million, a PE ratio of -26.29 and a beta of 5.27.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.95 EPS for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer owned 345,000 shares in the company, valued at approximately $9,135,600. This represents a 9.74% decrease in their ownership of the stock. The transaction 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. Also, Director Seth Jason Berl sold 3,750 shares of the business’s stock in a transaction 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 sale, the director owned 7,586 shares in the company, valued at $189,043.12. The trade was a 33.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,616,981 shares of company stock valued at $43,096,346 in the last three months. Insiders own 32.77% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors have recently modified their holdings of the company. Harbour Investments Inc. grew its holdings in shares of Nano Nuclear Energy by 275.7% in the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 863 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Nano Nuclear Energy by 165.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after purchasing an additional 835 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in Nano Nuclear Energy during the first quarter worth $36,000. US Bancorp DE boosted its position in Nano Nuclear Energy by 51.9% during the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy in the third quarter valued at $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.