Nano Nuclear Energy (NASDAQ:NNE) Shares Down 9.1% – Here’s What Happened
by Scott Moore · The Cerbat GemNano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report) shares traded down 9.1% on Tuesday . The company traded as low as $24.01 and last traded at $23.4930. 1,340,178 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 2,192,996 shares. The stock had previously closed at $25.85.
Analyst Ratings Changes
Several brokerages have issued reports on NNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.
Get Our Latest Research Report on NNE
Nano Nuclear Energy Trading Down 8.5%
The company has a market capitalization of $1.23 billion, a PE ratio of -34.29 and a beta of 5.06. The firm has a 50 day simple moving average of $24.74 and a two-hundred day simple moving average of $27.55.
Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.08. Research analysts expect that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current fiscal year.
Insider Buying and Selling at Nano Nuclear Energy
In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of Nano Nuclear Energy stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at approximately $219,416,320. The trade was a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $18,676,000.00. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,616,981 shares of company stock valued at $43,096,346. Insiders own 32.77% of the company’s stock.
Institutional Trading of Nano Nuclear Energy
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Nano Nuclear Energy by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after purchasing an additional 486,367 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock valued at $2,854,000 after acquiring an additional 60,336 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after acquiring an additional 1,030,262 shares during the period. UBS Group AG grew its holdings in Nano Nuclear Energy by 135.7% in the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock valued at $27,805,000 after purchasing an additional 666,722 shares during the period. Finally, Caprock Group LLC acquired a new position in Nano Nuclear Energy during the third quarter worth approximately $1,347,000.
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.