Nano Nuclear Energy (NASDAQ:NNE) Reaches New 52-Week Low – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $9.98 and last traded at $9.7220, with a volume of 236,559 shares. The stock had previously closed at $10.95.

Analyst Ratings Changes

Several brokerages have issued reports on NNE. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Truist Financial reduced their target price on Nano Nuclear Energy from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, October 22nd. Needham & Company LLC assumed coverage on shares of Nano Nuclear Energy in a research note on Monday, September 21st. They issued a “buy” rating and a $33.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nano Nuclear Energy has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Nano Nuclear Energy Price Performance

The firm has a market capitalization of $512.06 million, a price-to-earnings ratio of -13.85 and a beta of 5.66. The business’s fifty day simple moving average is $15.30 and its 200 day simple moving average is $21.47.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.50 million. Equities research analysts expect that Nano Nuclear Energy Inc. will post -0.80 earnings per share for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, CEO James Walker sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total value of $444,250.00. Following the completion of the sale, the chief executive officer directly owned 635,000 shares in the company, valued at $11,283,950. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth $180,000. Signaturefd LLC lifted its position in shares of Nano Nuclear Energy by 337.7% in the third quarter. Signaturefd LLC now owns 1,637 shares of the company’s stock worth $26,000 after buying an additional 1,263 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Nano Nuclear Energy by 131.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,439 shares of the company’s stock valued at $55,000 after acquiring an additional 1,952 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Nano Nuclear Energy in the 3rd quarter worth $225,000. Finally, Engineers Gate Manager LP purchased a new position in Nano Nuclear Energy in the second quarter worth about $302,000.

Nano Nuclear Energy Company Profile

Nano Nuclear Energy Inc is a development-stage nuclear technology company focused on providing portable, scalable, and carbon-free energy solutions. The company is developing advanced microreactor technologies intended to serve applications that may be difficult or costly to support with conventional power infrastructure, including remote communities, industrial operations, data centers, and defense-related facilities.

Its reactor portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor.