Nano Nuclear Energy (NASDAQ:NNE) Chairman Jiang Yu Sells 700,000 Shares

Nano Nuclear Energy Inc. (NASDAQ:NNE) Chairman Jiang Yu sold 700,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at $219,416,320. This represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Jiang Yu sold 45,900 shares of Nano Nuclear Energy stock. The shares were sold at an average price of $26.64, for a total transaction of $1,222,776.00.

Nano Nuclear Energy Trading Down 9.9%

Shares of NNE stock traded down $2.60 during trading on Friday, reaching $23.56. 3,839,828 shares of the company’s stock traded hands, compared to its average volume of 2,182,100. The firm’s 50-day moving average is $24.62 and its 200 day moving average is $27.64. The company has a market capitalization of $1.23 billion, a P/E ratio of -34.14 and a beta of 5.05. Nano Nuclear Energy Inc. has a 1 year low of $18.93 and a 1 year high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Two 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently bought and sold shares of NNE. Harbour Investments Inc. grew its stake in 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 buying an additional 863 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Nano Nuclear Energy by 165.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after buying an additional 835 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Nano Nuclear Energy during the 1st quarter valued at $36,000. US Bancorp DE lifted its holdings in shares of Nano Nuclear Energy by 51.9% during 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Nano Nuclear Energy in the third quarter worth $48,000.

Nano Nuclear Energy Company Profile

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.