Weiss Asset Management LP Decreases Position in Nano Nuclear Energy Inc. $NNE

Weiss Asset Management LP lessened its stake in Nano Nuclear Energy Inc. (NASDAQ:NNE) by 33.9% during the first quarter, HoldingsChannel reports. The firm owned 1,052,756 shares of the company’s stock after selling 539,262 shares during the period. Weiss Asset Management LP’s holdings in Nano Nuclear Energy were worth $21,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Nano Nuclear Energy by 24.7% during the 4th quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock worth $77,825,000 after acquiring an additional 643,070 shares during the period. Vanguard Group Inc. raised its stake in Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after acquiring an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nano Nuclear Energy by 11,676.8% during 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 last quarter. Ghisallo Capital Management LLC purchased a new stake in Nano Nuclear Energy during the fourth quarter valued at about $38,224,000. Finally, UBS Group AG boosted its position in Nano Nuclear Energy by 135.7% during the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after purchasing an additional 666,722 shares during the period.

Insiders Place Their Bets

In other news, CFO Jaisun Garcha sold 37,215 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the transaction, the chief financial officer owned 345,000 shares of the company’s stock, valued at approximately $9,135,600. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Florent Heidet sold 3,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.95, for a total value of $74,850.00. Following the completion of the sale, the chief technology officer owned 6,185 shares in the company, valued at $154,315.75. This trade represents a 32.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,616,981 shares of company stock worth $43,096,346. Company insiders own 32.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NNE. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Roth Capital assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target on the stock. Wall Street Zen downgraded shares of Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Friday, July 17th. Finally, Truist Financial began coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They set a “hold” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Nano Nuclear Energy Trading Down 7.6%

Shares of Nano Nuclear Energy stock opened at $15.59 on Friday. Nano Nuclear Energy Inc. has a 12-month low of $15.44 and a 12-month high of $60.87. The company has a market cap of $811.93 million, a price-to-earnings ratio of -22.59 and a beta of 5.27. The company’s 50-day moving average price is $22.63 and its 200-day moving average price is $25.04.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.08. On average, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.93 earnings per share for the current year.

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.