Nano Nuclear Energy (NASDAQ:NNE) Trading Down 7.7% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) was down 7.7% during trading on Friday . The company traded as low as $15.71 and last traded at $15.58. 1,138,859 shares were traded during mid-day trading, a decline of 50% from the average session volume of 2,295,657 shares. The stock had previously closed at $16.88.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial assumed coverage on shares of Nano Nuclear Energy in a research report on Monday, July 13th. They set a “hold” rating and a $22.00 price target for the company. Roth Capital started coverage on Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a “buy” rating and a $45.00 price objective on the stock. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.00.

Nano Nuclear Energy Trading Down 7.5%

The stock has a market capitalization of $813.54 million, a price-to-earnings ratio of -22.64 and a beta of 5.27. The firm has a 50-day moving average of $22.81 and a 200-day moving average of $25.11.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. On average, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.93 EPS for the current year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the insider directly owned 8,224,000 shares of the company’s stock, valued at $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jaisun Garcha sold 37,215 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total transaction of $985,453.20. Following the completion of the transaction, the chief financial officer directly owned 345,000 shares in the company, valued at $9,135,600. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock worth $43,096,346 in the last ninety days. Company insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. Royal Bank of Canada boosted its stake in Nano Nuclear Energy by 185.2% in the first quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock valued at $560,000 after acquiring an additional 13,730 shares in the last quarter. AQR Capital Management LLC acquired a new position in Nano Nuclear Energy during the first quarter worth approximately $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Nano Nuclear Energy by 535.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock valued at $385,000 after buying an additional 12,256 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after acquiring an additional 1,520 shares during the last quarter. Finally, Creative Planning purchased a new stake in Nano Nuclear Energy in the 2nd quarter valued at $316,000.

About Nano Nuclear Energy

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.