Nano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report) fell 4.5% during mid-day trading on Monday . The company traded as low as $17.75 and last traded at $18.02. 2,006,966 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 2,314,831 shares. The stock had previously closed at $18.86.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on NNE. Roth Capital assumed coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Truist Financial started coverage on shares of Nano Nuclear Energy in a report on Monday. They issued a “hold” rating and a $22.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Nano Nuclear Energy currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.
View Our Latest Research Report on NNE
Nano Nuclear Energy Stock Performance
Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last posted its earnings results 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. Sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.95 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Chairman Jiang Yu sold 700,000 shares of the stock in a transaction dated 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 sale, the chairman directly owned 8,224,000 shares of the company’s stock, valued at $219,416,320. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total value of $18,676,000.00. Following the sale, the insider owned 8,224,000 shares in the company, valued at $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock valued at $43,096,346 in the last ninety days. Company insiders own 32.77% of the company’s stock.
Hedge Funds Weigh In On Nano Nuclear Energy
Large investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in Nano Nuclear Energy by 24.7% during the fourth quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock worth $77,825,000 after purchasing an additional 643,070 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Nano Nuclear Energy by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after buying an additional 486,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Nano Nuclear Energy by 11,676.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock worth $66,564,000 after buying an additional 1,711,592 shares during the period. Weiss Asset Management LP acquired a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $38,224,000. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $38,224,000.
About Nano Nuclear Energy
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.
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