Nano Nuclear Energy (NASDAQ:NNE) Major Shareholder Sells $9,482,474.43 in Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) major shareholder I Financial Ventures Group Llc sold 333,069 shares of the stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $28.47, for a total value of $9,482,474.43. Following the completion of the transaction, the insider directly owned 9,288,457 shares of the company’s stock, valued at $264,442,370.79. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

I Financial Ventures Group Llc also recently made the following trade(s):

• On Monday, December 29th, I Financial Ventures Group Llc sold 176,457 shares of Nano Nuclear Energy stock. The shares were sold at an average price of $27.03, for a total value of $4,769,632.71.
• On Wednesday, December 24th, I Financial Ventures Group Llc sold 378,474 shares of Nano Nuclear Energy stock. The stock was sold at an average price of $30.14, for a total value of $11,407,206.36.

Nano Nuclear Energy Stock Performance

Shares of NASDAQ:NNE traded down $1.53 on Tuesday, hitting $24.89. The company’s stock had a trading volume of 2,906,816 shares, compared to its average volume of 3,585,106. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -23.93 and a beta of 7.19. Nano Nuclear Energy Inc. has a 12 month low of $17.26 and a 12 month high of $60.87. The stock’s 50-day moving average is $35.65 and its two-hundred day moving average is $36.82.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.14. Equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc grew its position in Nano Nuclear Energy by 102.1% during the third quarter. IFP Advisors Inc now owns 8,342 shares of the company’s stock valued at $322,000 after purchasing an additional 4,214 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Nano Nuclear Energy in the 3rd quarter worth approximately $48,000. NewEdge Advisors LLC boosted its stake in shares of Nano Nuclear Energy by 6.5% during the 3rd quarter. NewEdge Advisors LLC now owns 63,377 shares of the company’s stock valued at $2,444,000 after buying an additional 3,882 shares during the period. Scientech Research LLC purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $1,113,000. Finally, Prosperity Wealth Management Inc. purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $332,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on NNE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Wednesday, October 8th. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Nano Nuclear Energy currently has an average rating of “Moderate Buy” and an average price target 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.