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

Nano Nuclear Energy Inc. (NASDAQ:NNE) Chairman Jiang Yu sold 333,069 shares of Nano Nuclear Energy stock in a transaction on Friday, December 26th. The stock was sold at an average price of $28.47, for a total value of $9,482,474.43. Following the sale, the chairman owned 9,288,457 shares in the company, valued at $264,442,370.79. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Jiang Yu also recently made the following trade(s):

• On Monday, December 29th, Jiang Yu sold 176,457 shares of Nano Nuclear Energy stock. The shares were sold at an average price of $27.03, for a total transaction of $4,769,632.71.
• On Wednesday, December 24th, Jiang Yu 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 Stock Performance

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. The stock has a market cap of $1.26 billion, a PE ratio of -23.93 and a beta of 7.19. Nano Nuclear Energy Inc. has a 12-month low of $17.26 and a 12-month high of $60.87. The business has a 50-day moving average price of $35.65 and a two-hundred day moving average price of $36.82.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.14. On average, research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. Archer Investment Corp purchased a new stake in Nano Nuclear Energy in the 3rd quarter worth approximately $39,000. Tripletail Wealth Management LLC purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $43,000. US Bancorp DE increased its holdings in shares of Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth $48,000. Finally, NewEdge Advisors LLC boosted its stake in Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock valued at $51,000 after buying an additional 1,520 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NNE. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average 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.