Nano Nuclear Energy (NASDAQ:NNE) Chairman Sells $11,407,206.36 in Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) Chairman Jiang Yu sold 378,474 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $30.14, for a total value of $11,407,206.36. Following the transaction, the chairman owned 9,621,526 shares of the company’s stock, valued at $289,992,793.64. This represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jiang Yu also recently made the following trade(s):

• On Monday, December 29th, Jiang Yu sold 176,457 shares of Nano Nuclear Energy stock. The stock was sold at an average price of $27.03, for a total transaction of $4,769,632.71.
• On Friday, December 26th, Jiang Yu sold 333,069 shares of Nano Nuclear Energy stock. The stock was sold at an average price of $28.47, for a total transaction of $9,482,474.43.

Nano Nuclear Energy Trading Down 5.8%

Shares of NASDAQ:NNE traded down $1.53 during mid-day trading on Tuesday, reaching $24.89. The stock had a trading volume of 2,906,816 shares, compared to its average volume of 3,585,106. The firm has a 50 day simple moving average of $35.65 and a two-hundred day simple moving average of $36.82. The firm has a market cap of $1.26 billion, a PE ratio of -23.93 and a beta of 7.19. Nano Nuclear Energy Inc. has a twelve month low of $17.26 and a twelve month high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.14. On average, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NNE. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently made changes to their positions in NNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 worth $66,564,000 after buying an additional 1,711,592 shares in the last quarter. Van ECK Associates Corp increased its position in Nano Nuclear Energy by 65.7% during the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after acquiring an additional 1,030,262 shares during the last quarter. Hood River Capital Management LLC bought a new stake in Nano Nuclear Energy in the second quarter worth about $31,935,000. Vanguard Group Inc. increased its stake in Nano Nuclear Energy by 40.9% in the third quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock worth $68,547,000 after purchasing an additional 516,129 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in Nano Nuclear Energy during the 2nd quarter valued at about $6,269,000.

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.