Nano Nuclear Energy (NASDAQ:NNE) Downgraded by Wall Street Zen to “Strong Sell”

Nano Nuclear Energy (NASDAQ:NNE) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other research analysts have also recently issued reports on the stock. Truist Financial assumed coverage on shares of Nano Nuclear Energy in a report on Monday. They issued a “hold” rating and a $22.00 price target for the company. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Roth Capital started coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Nano Nuclear Energy Stock Down 1.0%

Shares of Nano Nuclear Energy stock opened at $16.03 on Friday. The firm has a market capitalization of $834.84 million, a P/E ratio of -23.23 and a beta of 5.27. The company has a 50 day moving average price of $23.66 and a 200 day moving average price of $25.34. Nano Nuclear Energy has a 52 week low of $15.44 and a 52 week high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. As a group, research analysts anticipate that Nano Nuclear Energy will post -0.93 earnings per share for the current fiscal 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 firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their position. The transaction was disclosed in a 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, Chairman Jiang Yu sold 700,000 shares of Nano Nuclear Energy stock in a transaction that occurred 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 sale, the chairman owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock valued at $43,096,346 over the last quarter. 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 made changes to their positions in NNE. US Bancorp DE raised its holdings in shares of 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 during the last quarter. Harbour Investments Inc. boosted its holdings in Nano Nuclear Energy by 275.7% in the fourth 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 last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Nano Nuclear Energy in the third quarter valued at $48,000. Thurston Springer Miller Herd & Titak Inc. grew its position 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 purchasing an additional 835 shares during the period. Finally, Ascentis Independent Advisors acquired a new stake in Nano Nuclear Energy during the 1st quarter worth about $36,000.

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.