Van ECK Associates Corp Has $80.75 Million Holdings in Nano Nuclear Energy Inc. $NNE

Van ECK Associates Corp grew its stake in Nano Nuclear Energy Inc. (NASDAQ:NNE) by 26.9% in the second quarter, HoldingsChannel reports. The fund owned 3,819,847 shares of the company’s stock after acquiring an additional 810,022 shares during the period. Van ECK Associates Corp owned 0.07% of Nano Nuclear Energy worth $80,752,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of Nano Nuclear Energy by 185.2% during the first quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock valued at $560,000 after purchasing an additional 13,730 shares during the last quarter. AQR Capital Management LLC bought a new position in Nano Nuclear Energy in the first quarter valued at about $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Nano Nuclear Energy by 535.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock worth $385,000 after purchasing an additional 12,256 shares during the period. NewEdge Advisors LLC raised its holdings in Nano Nuclear Energy by 385.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after purchasing an additional 1,520 shares during the last quarter. Finally, Creative Planning bought a new stake in Nano Nuclear Energy during the 2nd quarter worth about $316,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NNE. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Roth Capital assumed coverage on Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Truist Financial assumed coverage on Nano Nuclear Energy in a report on Monday, July 13th. They set a “hold” rating and a $22.00 target price on the stock. Finally, Alliance Global Partners initiated coverage on Nano Nuclear Energy in a research report on Monday, July 27th. They set a “buy” rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Insiders Place Their Bets

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 8,224,000 shares in the company, valued at approximately $219,416,320. The trade was a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman directly owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock worth $43,096,346 in the last 90 days. Company insiders own 18.61% of the company’s stock.

Nano Nuclear Energy Trading Down 6.6%

NNE stock opened at $17.97 on Friday. The stock has a 50-day moving average price of $18.74 and a two-hundred day moving average price of $22.57. The stock has a market cap of $964.99 million, a PE ratio of -26.04 and a beta of 5.42. Nano Nuclear Energy Inc. has a 1 year low of $14.71 and a 1 year high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The firm had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. On average, analysts forecast that Nano Nuclear Energy Inc. will post -0.8 earnings per share for the current fiscal year.

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.