Insider Selling: Nano Nuclear Energy (NASDAQ:NNE) CEO Sells 123,688 Shares of Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) CEO James John Walker sold 123,688 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.49, for a total value of $3,276,495.12. Following the transaction, the chief executive officer owned 555,000 shares in the company, valued at approximately $14,701,950. This trade represents a 18.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nano Nuclear Energy Stock Performance

Shares of Nano Nuclear Energy stock traded down $2.60 on Friday, reaching $23.56. The stock had a trading volume of 3,839,828 shares, compared to its average volume of 2,182,100. The business’s 50-day moving average price is $24.62 and its two-hundred day moving average price is $27.64. The stock has a market cap of $1.23 billion, a P/E ratio of -34.14 and a beta of 5.05. Nano Nuclear Energy Inc. has a fifty-two week low of $18.93 and a fifty-two week high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. As a group, equities analysts forecast that Nano Nuclear Energy Inc. will post -1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. boosted its stake in Nano Nuclear Energy by 9.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock worth $105,000 after buying an additional 381 shares in the last quarter. US Bancorp DE increased its holdings in Nano Nuclear Energy by 51.9% in 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 stake in shares of Nano Nuclear Energy by 1.2% in 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 in the last quarter. Arizona State Retirement System lifted its holdings in shares of Nano Nuclear Energy by 8.6% during the 3rd quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock worth $354,000 after acquiring an additional 727 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Nano Nuclear Energy by 4.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock valued at $390,000 after acquiring an additional 793 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NNE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus 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.