Nano Nuclear Energy (NASDAQ:NNE) Trading Down 5% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price fell 5% on Friday . The company traded as low as $16.52 and last traded at $16.49. 1,780,074 shares were traded during mid-day trading, a decline of 19% from the average session volume of 2,208,825 shares. The stock had previously closed at $17.36.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NNE shares. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Alliance Global Partners initiated coverage on Nano Nuclear Energy in a research note on Monday, July 27th. They set a “buy” rating and a $46.00 target price for the company. Northland Securities set a $37.00 target price on Nano Nuclear Energy in a report on Friday, August 14th. Roth Capital began coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Nano Nuclear Energy Stock Down 5.5%

The firm has a market capitalization of $881.22 million, a price-to-earnings ratio of -23.78 and a beta of 5.41. The business has a 50-day moving average of $17.97 and a two-hundred day moving average of $22.02.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.07. The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. Equities analysts predict that Nano Nuclear Energy Inc. will post -0.8 EPS for the current fiscal year.

Insider Activity

In other news, CEO James Walker sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total transaction of $444,250.00. Following the sale, the chief executive officer directly owned 635,000 shares in the company, valued at approximately $11,283,950. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 18.61% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

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

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.