Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) Major Shareholder Sells 333,069 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) major shareholder I Financial Ventures Group Llc sold 333,069 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $28.47, for a total value of $9,482,474.43. Following the sale, the insider owned 9,288,457 shares of the company’s stock, valued at approximately $264,442,370.79. This trade represents a 3.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

I Financial Ventures Group Llc also recently made the following trade(s):

• On Monday, December 29th, I Financial Ventures Group Llc sold 176,457 shares of Nano Nuclear Energy stock. The shares were sold at an average price of $27.03, for a total value of $4,769,632.71.
• On Wednesday, December 24th, I Financial Ventures Group Llc sold 378,474 shares of Nano Nuclear Energy stock. The stock was sold at an average price of $30.14, for a total transaction of $11,407,206.36.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE traded down $1.53 during midday trading on Tuesday, reaching $24.89. The company had a trading volume of 2,906,816 shares, compared to its average volume of 3,585,106. Nano Nuclear Energy Inc. has a one year low of $17.26 and a one year high of $60.87. The stock has a market capitalization of $1.26 billion, a P/E ratio of -23.93 and a beta of 7.19. The stock’s fifty day moving average price is $35.65 and its 200-day moving average price is $36.82.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.14. As a group, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Nano Nuclear Energy by 51.9% in 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 period. Rothschild Investment LLC boosted its stake in Nano Nuclear Energy by 9.3% during the 2nd quarter. Rothschild Investment LLC now owns 6,655 shares of the company’s stock valued at $230,000 after purchasing an additional 565 shares during the period. CWM LLC grew its position in Nano Nuclear Energy by 17.7% in the 3rd quarter. CWM LLC now owns 3,837 shares of the company’s stock worth $148,000 after purchasing an additional 576 shares during the last quarter. Swiss National Bank increased its stake in shares of Nano Nuclear Energy by 1.2% in the third quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after purchasing an additional 700 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Nano Nuclear Energy by 8.6% in the third quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock valued at $354,000 after purchasing an additional 727 shares during the period.

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.