Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1.8% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 1.8% on Wednesday . The stock traded as low as $20.51 and last traded at $20.75. Approximately 2,252,709 shares changed hands during trading, a decline of 3% from the average session volume of 2,321,220 shares. The stock had previously closed at $21.14.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NNE. Roth Mkm started coverage on Nano Nuclear Energy in a report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th. Two equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.50.

Nano Nuclear Energy Price Performance

The company has a market capitalization of $1.08 billion, a P/E ratio of -30.07 and a beta of 5.05. The stock’s 50 day simple moving average is $25.35 and its two-hundred day simple moving average is $26.52.

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

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, Chairman Jiang Yu sold 700,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total value of $18,676,000.00. Following the transaction, the chairman directly owned 8,224,000 shares in the company, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James John Walker sold 123,688 shares of Nano Nuclear Energy stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.49, for a total value of $3,276,495.12. Following the completion of the sale, the chief executive officer directly owned 555,000 shares of the company’s stock, valued at $14,701,950. This trade represents a 18.22% 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. In the last three months, insiders sold 1,616,981 shares of company stock worth $43,096,346. Corporate insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNE. SBI Securities Co. Ltd. lifted its position in Nano Nuclear Energy by 9.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock valued at $105,000 after purchasing an additional 381 shares during the period. US Bancorp DE grew its position in shares of Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after buying an additional 400 shares during the period. Swiss National Bank raised its stake in shares of Nano Nuclear Energy by 1.2% during the third quarter. Swiss National Bank now owns 60,300 shares of the company’s stock worth $2,325,000 after buying an additional 700 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its stake 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 buying an additional 720 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 valued at $390,000 after buying an additional 793 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.