Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) Major Shareholder Sells 700,000 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) major shareholder I Financial Ventures Group Llc sold 700,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total value of $18,676,000.00. Following the completion of the sale, the insider owned 8,224,000 shares of the company’s stock, valued at $219,416,320. The trade was a 7.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE traded down $2.60 during trading on Friday, hitting $23.56. 3,839,828 shares of the company’s stock were exchanged, compared to its average volume of 2,182,100. The business’s 50-day simple moving average is $24.62 and its 200 day simple moving average is $27.64. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -34.14 and a beta of 5.05. Nano Nuclear Energy Inc. has a 52-week low of $18.93 and a 52-week high of $60.87.

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 analysts’ consensus estimates of ($0.26) by $0.08. On average, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NNE. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nano Nuclear Energy currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently bought and sold shares of NNE. SBI Securities Co. Ltd. boosted its holdings in shares of Nano Nuclear Energy by 9.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock worth $105,000 after purchasing an additional 381 shares during the period. US Bancorp DE raised its holdings in Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after buying an additional 400 shares during the period. Swiss National Bank raised its holdings in Nano Nuclear Energy by 1.2% during the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after buying an additional 700 shares during the period. Arizona State Retirement System lifted its position in Nano Nuclear Energy by 8.6% in the third quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock worth $354,000 after buying an additional 727 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Nano Nuclear Energy by 4.3% during 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 period.

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.