Nano Nuclear Energy (NASDAQ:NNE) Director Sells $1,783,650.00 in Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) Director Tsun Yee Law sold 55,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $32.43, for a total transaction of $1,783,650.00. Following the completion of the transaction, the director owned 75,000 shares in the company, valued at approximately $2,432,250. This represents a 42.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nano Nuclear Energy Stock Down 5.8%

Shares of NASDAQ NNE traded down $1.53 during mid-day trading on Tuesday, reaching $24.89. 2,906,816 shares of the company were exchanged, compared to its average volume of 3,585,106. The company’s 50-day simple moving average is $35.65 and its 200-day simple moving average is $36.82. The stock has a market capitalization of $1.26 billion, a P/E ratio of -23.93 and a beta of 7.19. Nano Nuclear Energy Inc. has a twelve month low of $17.26 and a twelve month high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.14. As a group, equities research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. Van ECK Associates Corp lifted its position in Nano Nuclear Energy by 65.7% during the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after purchasing an additional 1,030,262 shares during the period. Vanguard Group Inc. increased its holdings in Nano Nuclear Energy by 40.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock valued at $68,547,000 after buying an additional 516,129 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after buying an additional 1,711,592 shares during the period. Hood River Capital Management LLC acquired a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at approximately $31,935,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Nano Nuclear Energy by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 349,104 shares of the company’s stock worth $12,039,000 after acquiring an additional 20,899 shares during the period.

Analysts Set New Price Targets

NNE has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.