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

Nano Nuclear Energy Inc. (NASDAQ:NNEGet Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $18.29, but opened at $17.41. Nano Nuclear Energy shares last traded at $17.54, with a volume of 282,459 shares trading hands.

Analyst Ratings Changes

NNE has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Roth Capital started coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a “buy” rating and a $45.00 target price for the company. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Northland Securities set a $37.00 price target on Nano Nuclear Energy in a report on Friday, August 14th. Finally, New Street Research set a $45.00 price target on Nano Nuclear Energy in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Get Our Latest Report on NNE

Nano Nuclear Energy Stock Down 4.2%

The company has a market cap of $941.36 million, a P/E ratio of -25.42 and a beta of 5.42. The company has a 50 day moving average price of $18.60 and a 200-day moving average price of $22.47.

Nano Nuclear Energy (NASDAQ:NNEGet 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 -0.8 earnings per share for the current fiscal year.

Insider Activity at Nano Nuclear Energy

In other news, CTO Florent Heidet sold 3,000 shares of the stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jiang Yu sold 700,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman owned 8,224,000 shares in the company, valued at $219,416,320. This represents a 7.84% decrease in their position. 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 sold 1,616,981 shares of company stock worth $43,096,346 in the last three months. Insiders own 18.61% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NNE. Harbour Investments Inc. grew its stake in shares of Nano Nuclear Energy by 275.7% in the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 863 shares during the last quarter. Ascentis Independent Advisors acquired a new position in Nano Nuclear Energy during the first quarter valued at $36,000. State of Wyoming acquired a new position in Nano Nuclear Energy during the second quarter valued at $45,000. US Bancorp DE lifted its stake in Nano Nuclear Energy by 51.9% in the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after acquiring an additional 400 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Nano Nuclear Energy in the 3rd quarter worth about $48,000.

About Nano Nuclear Energy

(Get Free Report)

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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