Nano Nuclear Energy (NASDAQ:NNE) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Nano Nuclear Energy (NASDAQ:NNE) from a strong sell rating to a sell rating in a research note published on Saturday morning.

NNE has been the topic of a number of other reports. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a report on Thursday. Truist Financial initiated coverage on Nano Nuclear Energy in a research note on Monday, July 13th. They issued a “hold” rating and a $22.00 price objective on the stock. Northland Securities set a $37.00 target price on Nano Nuclear Energy in a report on Friday. Alliance Global Partners assumed coverage on Nano Nuclear Energy in a research note on Monday, July 27th. They set a “buy” rating and a $46.00 target price for the company. Finally, Roth Capital initiated coverage on Nano Nuclear Energy in a report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Nano Nuclear Energy Price Performance

NASDAQ NNE opened at $19.66 on Friday. The company has a market cap of $1.06 billion, a P/E ratio of -28.49 and a beta of 5.42. The stock has a 50-day moving average of $19.99 and a two-hundred day moving average of $23.39. Nano Nuclear Energy has a 1-year low of $14.71 and a 1-year high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.50 million. On average, analysts anticipate that Nano Nuclear Energy will post -0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the transaction, the insider owned 8,224,000 shares in the company, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Florent Heidet sold 3,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.95, for a total value of $74,850.00. Following the completion of the transaction, the chief technology officer directly owned 6,185 shares in the company, valued at $154,315.75. This trade represents a 32.66% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,616,981 shares of company stock worth $43,096,346. 18.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth approximately $73,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after purchasing an additional 1,711,592 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at about $38,224,000. Ghisallo Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at about $38,224,000. Finally, Regal Partners Ltd purchased a new position in Nano Nuclear Energy during the 4th quarter worth approximately $23,535,000.

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.