Nano Nuclear Energy (NASDAQ:NNE) Rating Lowered to Strong Sell at Wall Street Zen

Nano Nuclear Energy (NASDAQ:NNE) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also recently issued reports on NNE. Roth Capital began 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 objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Finally, Truist Financial initiated coverage on Nano Nuclear Energy in a report on Monday, July 13th. They issued a “hold” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE opened at $16.03 on Friday. Nano Nuclear Energy has a twelve month low of $15.44 and a twelve month high of $60.87. The company has a market cap of $834.84 million, a price-to-earnings ratio of -23.23 and a beta of 5.27. The business has a 50 day moving average price of $23.66 and a 200 day moving average price of $25.34.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.08. Analysts anticipate that Nano Nuclear Energy will post -0.93 EPS for the current year.

Insider Buying and Selling at Nano Nuclear Energy

In other Nano Nuclear Energy news, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total value of $985,453.20. Following the transaction, the chief financial officer owned 345,000 shares of the company’s stock, valued at approximately $9,135,600. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $24.92, for a total value of $93,450.00. Following the transaction, the director owned 7,586 shares in the company, valued at approximately $189,043.12. This trade represents a 33.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,616,981 shares of company stock valued at $43,096,346 over the last quarter. 32.77% of the stock is owned by corporate insiders.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. boosted its stake in Nano Nuclear Energy by 275.7% during the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Nano Nuclear Energy by 165.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 835 shares in the last quarter. Ascentis Independent Advisors bought a new stake in Nano Nuclear Energy in the first quarter valued at approximately $36,000. US Bancorp DE raised its holdings in Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy in the third quarter worth $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.