Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) Chairman Sells 700,000 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) Chairman Jiang Yu sold 700,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman directly owned 8,224,000 shares in the company, valued at approximately $219,416,320. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $26.64, for a total value of $1,222,776.00.

Nano Nuclear Energy Price Performance

NASDAQ NNE traded down $2.60 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 stock has a market cap of $1.23 billion, a PE ratio of -34.14 and a beta of 5.05. Nano Nuclear Energy Inc. has a 12 month low of $18.93 and a 12 month high of $60.87. The stock has a 50-day simple moving average of $24.62 and a 200 day simple moving average of $27.64.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data 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. As a group, analysts anticipate that Nano Nuclear Energy Inc. will post -1.02 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on NNE shares. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Axiom Investment Management LLC bought a new stake in shares of Nano Nuclear Energy in the 1st quarter worth approximately $246,000. The Manufacturers Life Insurance Company raised its holdings in shares of Nano Nuclear Energy by 4.3% during the first quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock valued at $390,000 after acquiring an additional 793 shares in the last quarter. Themes Management Co LLC lifted its stake in Nano Nuclear Energy by 102.8% in the first quarter. Themes Management Co LLC now owns 24,449 shares of the company’s stock worth $501,000 after acquiring an additional 12,396 shares during the period. Lido Advisors LLC boosted its holdings in Nano Nuclear Energy by 1,769.6% in the first quarter. Lido Advisors LLC now owns 171,932 shares of the company’s stock valued at $3,521,000 after acquiring an additional 162,736 shares in the last quarter. Finally, Walleye Capital LLC boosted its holdings in Nano Nuclear Energy by 883.9% in the first quarter. Walleye Capital LLC now owns 48,210 shares of the company’s stock valued at $987,000 after acquiring an additional 43,310 shares in the last quarter.

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.