Nano Nuclear Energy (NASDAQ:NNE) Chairman Jiang Yu Sells 378,474 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) Chairman Jiang Yu sold 378,474 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $30.14, for a total transaction of $11,407,206.36. Following the sale, the chairman directly owned 9,621,526 shares of the company’s stock, valued at $289,992,793.64. The trade was a 3.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 shares were 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 Nano Nuclear Energy stock traded down $1.53 during trading hours 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 market capitalization of $1.26 billion, a PE ratio of -23.93 and a beta of 7.19. The stock’s 50 day moving average is $35.65 and its 200 day moving average is $36.82. 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 issued its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.14. As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Nano Nuclear Energy by 11,676.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after purchasing an additional 1,711,592 shares during the period. Van ECK Associates Corp lifted its holdings in shares of 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 worth $100,190,000 after purchasing an additional 1,030,262 shares during the period. Hood River Capital Management LLC purchased a new position in Nano Nuclear Energy in the 2nd quarter valued at $31,935,000. Vanguard Group Inc. increased its stake in Nano Nuclear Energy by 40.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock valued at $68,547,000 after buying an additional 516,129 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Nano Nuclear Energy during the 2nd quarter worth $6,269,000.

Analyst Ratings Changes

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

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.