Weiss Asset Management LP Has $21.56 Million Stock Position in Nano Nuclear Energy Inc. $NNE

Weiss Asset Management LP lowered its position in Nano Nuclear Energy Inc. (NASDAQ:NNE) by 33.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,052,756 shares of the company’s stock after selling 539,262 shares during the period. Weiss Asset Management LP owned 2.02% of Nano Nuclear Energy worth $21,560,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its position in shares of Nano Nuclear Energy by 275.7% during the fourth 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 period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Nano Nuclear Energy by 165.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 835 shares during the last quarter. Ascentis Independent Advisors bought a new stake in Nano Nuclear Energy during the 1st quarter worth approximately $36,000. US Bancorp DE increased its holdings in 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 purchasing an additional 400 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth approximately $48,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NNE shares. Wall Street Zen lowered Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, June 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Friday, July 17th. Roth Capital initiated coverage on shares of Nano Nuclear Energy in a report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Truist Financial assumed coverage on shares of Nano Nuclear Energy in a research note on Monday, July 13th. They issued a “hold” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Nano Nuclear Energy Stock Down 7.6%

Nano Nuclear Energy stock opened at $15.59 on Friday. Nano Nuclear Energy Inc. has a 52 week low of $15.44 and a 52 week high of $60.87. The company’s 50 day moving average price is $22.63 and its two-hundred day moving average price is $25.04. The stock has a market cap of $811.93 million, a P/E ratio of -22.59 and a beta of 5.27.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. On average, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.93 EPS for the current year.

Insiders Place Their Bets

In other news, CEO James John Walker sold 123,688 shares of Nano Nuclear Energy stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.49, for a total transaction of $3,276,495.12. Following the sale, the chief executive officer directly owned 555,000 shares in the company, valued at $14,701,950. The trade was a 18.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jaisun Garcha sold 37,215 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the completion of the transaction, the chief financial officer directly owned 345,000 shares in the company, valued at $9,135,600. This trade represents a 9.74% 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. In the last 90 days, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. 32.77% of the stock is currently owned by insiders.

Nano Nuclear Energy 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.