Nano Nuclear Energy (NASDAQ:NNE) Trading Down 6.2% – Should You Sell?
by Jessica Moore · The Cerbat GemNano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report)’s stock price was down 6.2% during mid-day trading on Wednesday . The stock traded as low as $27.10 and last traded at $27.2570. Approximately 970,671 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 2,069,012 shares. The stock had previously closed at $29.07.
Analyst Ratings Changes
Several equities analysts recently commented on NNE shares. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday. Texas Capital upgraded shares of Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Finally, Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.
Nano Nuclear Energy Price Performance
The company has a market cap of $1.44 billion, a P/E ratio of -40.05 and a beta of 5.15. The company’s 50-day moving average is $23.68 and its two-hundred day moving average is $28.05.
Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.08. Equities research analysts anticipate that Nano Nuclear Energy Inc. will post -1.02 EPS for the current year.
Insider Buying and Selling at Nano Nuclear Energy
In related news, Director Seth Jason Berl sold 3,664 shares of Nano Nuclear Energy stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $27.69, for a total transaction of $101,456.16. Following the completion of the transaction, the director directly owned 3,836 shares in the company, valued at $106,218.84. The trade was a 48.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.77% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNE. Archer Investment Corp acquired a new position in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $39,000. US Bancorp DE lifted its stake 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 purchasing an additional 400 shares during the period. Harbour Investments Inc. lifted its stake 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 valued at $28,000 after purchasing an additional 863 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth $48,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Nano Nuclear Energy by 165.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after buying an additional 835 shares during the period.
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.