Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 3.5% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price was down 3.5% during mid-day trading on Wednesday . The stock traded as low as $22.46 and last traded at $23.0520. 2,581,125 shares changed hands during trading, an increase of 13% from the average daily volume of 2,291,966 shares. The stock had previously closed at $23.90.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NNE. Roth Mkm initiated coverage on Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Nano Nuclear Energy Stock Performance

The company’s 50-day moving average price is $25.63 and its two-hundred day moving average price is $27.04. The stock has a market cap of $1.20 billion, a PE ratio of -33.41 and a beta of 5.05.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data 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. Equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Nano Nuclear Energy

In other news, CTO Florent Heidet sold 3,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $24.95, for a total transaction of $74,850.00. Following the transaction, the chief technology officer directly owned 6,185 shares in the company, valued at approximately $154,315.75. This represents a 32.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total value of $18,676,000.00. Following the transaction, the insider owned 8,224,000 shares in the company, valued at $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. 32.77% of the stock is currently owned by company insiders.

Institutional Trading of Nano Nuclear Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. grew its position in Nano Nuclear Energy by 275.7% during the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Nano Nuclear Energy by 165.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after acquiring an additional 835 shares in the last quarter. Ascentis Independent Advisors bought a new stake in shares of Nano Nuclear Energy in the 1st quarter worth approximately $36,000. US Bancorp DE lifted its holdings 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 worth $45,000 after acquiring an additional 400 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at $48,000.

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.