Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.9% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 4.9% during mid-day trading on Monday . The stock traded as low as $20.87 and last traded at $21.71. 701,526 shares were traded during trading, a decline of 60% from the average session volume of 1,744,554 shares. The stock had previously closed at $22.82.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Texas Capital raised Nano Nuclear Energy to a “strong-buy” rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nano Nuclear Energy has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Stock Performance

The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -19.55 and a beta of 7.58. The firm’s 50-day moving average price is $28.87 and its two-hundred day moving average price is $34.38.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.19. As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling

In other Nano Nuclear Energy news, Chairman Jiang Yu sold 766,661 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total value of $26,173,806.54. Following the completion of the sale, the chairman directly owned 8,724,000 shares of the company’s stock, valued at approximately $297,837,360. This represents a 8.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder I Financial Ventures Group Llc sold 766,661 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total value of $26,173,806.54. Following the sale, the insider directly owned 8,724,000 shares of the company’s stock, valued at approximately $297,837,360. This represents a 8.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,985,664 shares of company stock valued at $125,727,253 in the last three months. Insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNE. Caitong International Asset Management Co. Ltd raised its holdings in shares of Nano Nuclear Energy by 635.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,194 shares of the company’s stock valued at $221,000 after acquiring an additional 7,944 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Nano Nuclear Energy in the fourth quarter worth approximately $1,885,000. Invesco Ltd. raised its stake in Nano Nuclear Energy by 52.9% in the fourth quarter. Invesco Ltd. now owns 27,602 shares of the company’s stock valued at $663,000 after purchasing an additional 9,547 shares in the last quarter. Regal Partners Ltd bought a new stake in Nano Nuclear Energy during the fourth quarter valued at approximately $23,535,000. Finally, Millennium Management LLC grew its stake in Nano Nuclear Energy by 810.0% in the 4th quarter. Millennium Management LLC now owns 205,607 shares of the company’s stock worth $4,937,000 after buying an additional 183,013 shares in 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.