Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) Director Sells 55,000 Shares of Stock

by · The Cerbat Gem

Nano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report) Director Tsun Yee Law sold 55,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 75,000 shares of the company’s stock, valued at approximately $2,432,250. This represents a 42.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nano Nuclear Energy Trading Down 5.8%

NASDAQ NNE traded down $1.53 on Tuesday, hitting $24.89. 2,906,816 shares of the company’s stock were exchanged, compared to its average volume of 3,585,106. The stock has a 50-day moving average of $35.65 and a 200-day moving average of $36.82. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -23.93 and a beta of 7.19. Nano Nuclear Energy Inc. has a 52 week low of $17.26 and a 52 week high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last posted its quarterly earnings results on Thursday, December 18th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.14. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Nano Nuclear Energy by 445.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 59,291 shares of the company’s stock valued at $1,569,000 after buying an additional 48,424 shares during the period. Optimize Financial Inc bought a new stake in Nano Nuclear Energy in the first quarter valued at approximately $217,000. Invesco Ltd. bought a new stake in Nano Nuclear Energy in the first quarter valued at approximately $320,000. Exchange Traded Concepts LLC acquired a new stake in Nano Nuclear Energy during the 2nd quarter valued at approximately $6,269,000. Finally, Allworth Financial LP raised its holdings in Nano Nuclear Energy by 9,043.7% during the 2nd quarter. Allworth Financial LP now owns 10,881 shares of the company’s stock worth $375,000 after purchasing an additional 10,762 shares during the last quarter.

Analyst Upgrades and Downgrades

NNE has been the subject of a number of research reports. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Read Our Latest Report on Nano Nuclear Energy

Nano Nuclear Energy Company Profile

(Get Free Report)

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.

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