Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) CFO Sells 37,215 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) CFO Jaisun Garcha sold 37,215 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the completion of the sale, the chief financial officer directly owned 345,000 shares of the company’s stock, valued at $9,135,600. The trade was a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nano Nuclear Energy Trading Down 9.9%

NNE traded down $2.60 on Friday, reaching $23.56. The company had a trading volume of 3,839,828 shares, compared to its average volume of 2,182,100. The company has a market capitalization of $1.23 billion, a P/E ratio of -34.14 and a beta of 5.05. The company has a fifty day moving average of $24.62 and a 200-day moving average of $27.64. Nano Nuclear Energy Inc. has a one year low of $18.93 and a one year high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results 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. Research analysts predict that Nano Nuclear Energy Inc. will post -1.02 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. lifted its holdings in shares of Nano Nuclear Energy by 275.7% during the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Nano Nuclear Energy by 165.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 835 shares during the period. Ascentis Independent Advisors purchased a new position in Nano Nuclear Energy in the 1st quarter worth about $36,000. US Bancorp DE increased its stake in 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 purchasing an additional 400 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth about $48,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NNE. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, May 27th. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Two 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

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.