Nano Nuclear Energy (NASDAQ:NNE) Stock Rating Upgraded by Wall Street Zen

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

Other analysts also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Finally, Roth Mkm initiated coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.50.

Nano Nuclear Energy Stock Down 6.8%

Shares of Nano Nuclear Energy stock opened at $23.90 on Wednesday. The company has a 50-day simple moving average of $25.63 and a two-hundred day simple moving average of $27.04. Nano Nuclear Energy has a twelve month low of $18.93 and a twelve month high of $60.87. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -34.64 and a beta of 5.05.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. On average, sell-side analysts anticipate that Nano Nuclear Energy will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Nano Nuclear Energy

In other Nano Nuclear Energy news, CFO Jaisun Garcha sold 37,215 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total transaction of $985,453.20. Following the sale, the chief financial officer directly owned 345,000 shares of the company’s stock, valued at $9,135,600. The trade was a 9.74% decrease in their position. The transaction was disclosed in a legal 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 the company’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 chairman 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 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. In the last 90 days, insiders sold 1,616,981 shares of company stock valued at $43,096,346. Corporate insiders own 32.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in shares of Nano Nuclear Energy by 29.9% in the 1st quarter. Pacer Advisors Inc. now owns 101,974 shares of the company’s stock valued at $2,088,000 after buying an additional 23,484 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of Nano Nuclear Energy by 7.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company’s stock worth $211,000 after acquiring an additional 720 shares during the last quarter. Axiom Investment Management LLC bought a new position in shares of Nano Nuclear Energy during the first quarter worth about $246,000. The Manufacturers Life Insurance Company lifted its stake in shares of Nano Nuclear Energy by 4.3% in the first quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock worth $390,000 after acquiring an additional 793 shares during the period. Finally, Themes Management Co LLC lifted its stake in shares of Nano Nuclear Energy by 102.8% in the first quarter. Themes Management Co LLC now owns 24,449 shares of the company’s stock worth $501,000 after acquiring an additional 12,396 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.