Nano Nuclear Energy (NASDAQ:NNE) Shares Down 9.3% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 9.3% during trading on Tuesday . The company traded as low as $19.51 and last traded at $19.5030. Approximately 406,302 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,841,348 shares. The stock had previously closed at $21.51.

Analyst Ratings Changes

NNE has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Texas Capital raised shares of Nano Nuclear Energy to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Nano Nuclear Energy Price Performance

The company’s 50-day moving average is $24.37 and its 200-day moving average is $32.73. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -20.82 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.19. Sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Insider Activity at Nano Nuclear Energy

In other news, major shareholder I Financial Ventures Group Llc sold 121,339 shares of Nano Nuclear Energy stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $31.78, for a total transaction of $3,856,153.42. Following the sale, the insider owned 8,724,000 shares in the company, valued at $277,248,720. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jaisun Garcha sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total transaction of $2,553,000.00. Following the sale, the chief financial officer directly owned 250,000 shares of the company’s stock, valued at $8,510,000. The trade was a 23.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,049,664 shares of company stock valued at $69,352,176. 32.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. increased its position in shares of Nano Nuclear Energy by 9.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock worth $105,000 after purchasing an additional 381 shares during the last quarter. US Bancorp DE increased its stake in Nano Nuclear Energy by 51.9% during the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the last quarter. CWM LLC increased its stake in Nano Nuclear Energy by 17.7% during the third quarter. CWM LLC now owns 3,837 shares of the company’s stock valued at $148,000 after purchasing an additional 576 shares during the last quarter. Swiss National Bank increased its stake in Nano Nuclear Energy by 1.2% during the third quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after purchasing an additional 700 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Nano Nuclear Energy by 8.6% during the third quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock valued at $354,000 after purchasing an additional 727 shares during the last quarter.

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.