Nano Nuclear Energy (NASDAQ:NNE) Shares Down 2.2% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 2.2% on Friday . The stock traded as low as $18.57 and last traded at $18.86. Approximately 1,386,720 shares were traded during mid-day trading, a decline of 40% from the average session volume of 2,318,862 shares. The stock had previously closed at $19.29.

Analyst Ratings Changes

Several brokerages recently commented on NNE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th. Finally, Roth Capital began coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They set a “buy” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Nano Nuclear Energy Stock Down 2.2%

The company has a market capitalization of $982.29 million, a price-to-earnings ratio of -27.33 and a beta of 5.27. The firm has a 50 day moving average price of $24.52 and a two-hundred day moving average price of $25.81.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.08. Analysts predict that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current year.

Insider Activity at Nano Nuclear Energy

In other news, Director Seth Jason Berl sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $24.92, for a total transaction of $93,450.00. Following the completion of the sale, the director owned 7,586 shares of the company’s stock, valued at approximately $189,043.12. This trade represents a 33.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jaisun Garcha sold 37,215 shares of Nano Nuclear Energy stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the completion of the sale, the chief financial officer owned 345,000 shares of the company’s stock, valued at approximately $9,135,600. This trade represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,616,981 shares of company stock worth $43,096,346. 32.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock worth $66,564,000 after acquiring an additional 1,711,592 shares in the last quarter. Weiss Asset Management LP bought a new position in Nano Nuclear Energy during the fourth quarter worth $38,224,000. Ghisallo Capital Management LLC bought a new position in Nano Nuclear Energy during the fourth quarter worth $38,224,000. Regal Partners Ltd acquired a new position in Nano Nuclear Energy in the fourth quarter worth $23,535,000. Finally, UBS Group AG boosted its holdings in Nano Nuclear Energy by 135.7% in the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after purchasing an additional 666,722 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.