Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 11.1% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report)’s share price traded down 11.1% during trading on Wednesday. The stock traded as low as $12.76 and last traded at $12.7640. 1,700,245 shares were traded during trading, a decline of 22% from the average session volume of 2,191,811 shares. The stock had previously closed at $14.35.

Analysts Set New Price Targets

NNE has been the topic of a number of analyst reports. Alliance Global Partners started coverage on shares of Nano Nuclear Energy in a report on Monday, July 27th. They issued a “buy” rating and a $46.00 price objective on the stock. Susquehanna set a $39.00 target price on shares of Nano Nuclear Energy in a research note on Thursday, October 1st. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th. Finally, Roth Capital initiated 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 target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.14.

Get Our Latest Report on NNE

Nano Nuclear Energy Stock Down 9.7%

The company has a market cap of $695.90 million, a P/E ratio of -18.78 and a beta of 5.49. The company has a 50 day moving average price of $17.37 and a 200-day moving average price of $20.77.

Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.50 million. On average, research analysts expect that Nano Nuclear Energy Inc. will post -0.80 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nano Nuclear Energy news, CEO James Walker sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total transaction of $444,250.00. Following the sale, the chief executive officer directly owned 635,000 shares in the company, valued at approximately $11,283,950. The trade was a 3.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 18.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NNE. Ascentis Independent Advisors acquired a new stake in shares of Nano Nuclear Energy in the first quarter valued at $36,000. State of Wyoming bought a new position in Nano Nuclear Energy during the second quarter valued at about $45,000. C M Bidwell & Associates Ltd. acquired a new position in Nano Nuclear Energy during the second quarter worth about $55,000. Global Retirement Partners LLC acquired a new position in Nano Nuclear Energy during the second quarter worth about $68,000. Finally, International Assets Investment Management LLC raised its position in Nano Nuclear Energy by 150.4% in the first quarter. International Assets Investment Management LLC now owns 6,160 shares of the company’s stock worth $126,000 after acquiring an additional 3,700 shares in the last quarter.

Nano Nuclear Energy Company Profile

(Get Free Report)

Nano Nuclear Energy, Inc is an advanced nuclear energy technology company developing portable microreactors and related nuclear-fuel capabilities. The company’s objective is to provide compact, transportable power systems for applications that may not be well served by conventional nuclear plants or electrical grids.

Its principal reactor concepts include ZEUS, a solid-core battery reactor designed for off-grid power generation, and ODIN, a molten-salt reactor concept intended to produce electricity and industrial heat.

Recommended Stories

Receive News & Ratings for Nano Nuclear Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nano Nuclear Energy and related companies with MarketBeat.com's FREE daily email newsletter.