I Financial Ventures Group Llc Sells 700,000 Shares of Nano Nuclear Energy (NASDAQ:NNE) Stock

Nano Nuclear Energy Inc. (NASDAQ:NNE) major shareholder I Financial Ventures Group Llc sold 700,000 shares of Nano Nuclear Energy stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the insider directly owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Nano Nuclear Energy Stock Down 9.9%

NASDAQ:NNE traded down $2.60 during mid-day trading on Friday, hitting $23.56. 3,839,828 shares of the stock traded hands, compared to its average volume of 2,182,100. Nano Nuclear Energy Inc. has a 52 week low of $18.93 and a 52 week high of $60.87. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -34.14 and a beta of 5.05. The firm’s 50 day moving average is $24.62 and its two-hundred day moving average is $27.64.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NNE. Van ECK Associates Corp raised its position in Nano Nuclear Energy by 24.7% during the 4th quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock valued at $77,825,000 after purchasing an additional 643,070 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Nano Nuclear Energy by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after buying an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nano Nuclear Energy by 11,676.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after acquiring an additional 1,711,592 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $38,224,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Nano Nuclear Energy in the fourth quarter worth about $38,224,000.

Analysts Set New Price Targets

NNE has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.