Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) CEO Sells 123,688 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) CEO James John Walker sold 123,688 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.49, for a total value of $3,276,495.12. Following the sale, the chief executive officer owned 555,000 shares of the company’s stock, valued at $14,701,950. The trade was a 18.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nano Nuclear Energy Trading Down 9.9%

NASDAQ:NNE traded down $2.60 on Friday, hitting $23.56. 3,839,828 shares of the company’s stock traded hands, compared to its average volume of 2,182,100. The company 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 1 year low of $18.93 and a 1 year high of $60.87. The firm has a 50-day moving average price of $24.62 and a 200-day moving average price of $27.64.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.08. On average, research analysts forecast that Nano Nuclear Energy Inc. will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds have recently bought and sold shares of NNE. Axiom Investment Management LLC acquired a new position in Nano Nuclear Energy during the first quarter worth $246,000. The Manufacturers Life Insurance Company lifted its position in shares of Nano Nuclear Energy by 4.3% in the first quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock worth $390,000 after buying an additional 793 shares during the last quarter. Themes Management Co LLC boosted its stake in shares of Nano Nuclear Energy by 102.8% during the 1st 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 in the last quarter. Lido Advisors LLC increased its holdings in shares of Nano Nuclear Energy by 1,769.6% during the 1st 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 during the last quarter. Finally, Walleye Capital LLC raised its stake in shares of Nano Nuclear Energy by 883.9% in the 1st 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.

Analysts Set New Price Targets

Several research firms have recently commented on NNE. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nano Nuclear Energy presently has an average 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.