Bank of America Corp DE Sells 826,600 Shares of Nano Nuclear Energy Inc. $NNE

Key Points

• Bank of America cut its Nano Nuclear Energy stake by 92.3% in the first quarter, selling 826,600 shares and retaining 69,406 shares valued at approximately $1.42 million.
• Other institutional investors—including Lido Advisors and Walleye Capital—substantially increased their positions, while CEO James Walker sold 25,000 shares under a pre-arranged Rule 10b5-1 plan.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $39 price target versus NNE’s recent price of $17.65. The company reported a quarterly loss of $0.19 per share, better than estimates, but revenue missed expectations.

Bank of America Corp DE decreased its position in Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) by 92.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,406 shares of the company's stock after selling 826,600 shares during the period. Bank of America Corp DE owned about 0.13% of Nano Nuclear Energy worth $1,421,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings 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 worth $390,000 after purchasing an additional 793 shares in the last quarter. Themes Management Co LLC boosted its position in shares of Nano Nuclear Energy by 102.8% during the 1st quarter. Themes Management Co LLC now owns 24,449 shares of the company's stock valued at $501,000 after acquiring an additional 12,396 shares in the last quarter. Lido Advisors LLC increased its stake in Nano Nuclear Energy by 1,769.6% in the first quarter. Lido Advisors LLC now owns 171,932 shares of the company's stock valued at $3,521,000 after acquiring an additional 162,736 shares during the period. Walleye Capital LLC increased its stake in Nano Nuclear Energy by 883.9% in the first quarter. Walleye Capital LLC now owns 48,210 shares of the company's stock valued at $987,000 after acquiring an additional 43,310 shares during the period. Finally, Cetera Investment Advisers increased its stake in Nano Nuclear Energy by 7.0% in the first quarter. Cetera Investment Advisers now owns 109,000 shares of the company's stock valued at $2,232,000 after acquiring an additional 7,166 shares during the period.

Wall Street Analyst Weigh In

NNE has been the subject of a number of analyst reports. Roth Capital initiated coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a "buy" rating and a $45.00 price target for the company. Truist Financial started coverage on Nano Nuclear Energy in a research note on Monday, July 13th. They issued a "hold" rating and a $22.00 price objective on the stock. Wall Street Zen upgraded Nano Nuclear Energy from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Benchmark reaffirmed a "buy" rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Finally, Alliance Global Partners assumed coverage on Nano Nuclear Energy in a research note on Monday, July 27th. They issued a "buy" rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nano Nuclear Energy has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Insiders Place Their Bets

In other Nano Nuclear Energy news, CEO James Walker sold 25,000 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total transaction of $444,250.00. Following the transaction, the chief executive officer owned 635,000 shares of the company's stock, valued at approximately $11,283,950. This represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is owned by company insiders.

Nano Nuclear Energy Trading Up 0.3%

NNE opened at $17.65 on Friday. Nano Nuclear Energy Inc. has a 1-year low of $14.71 and a 1-year high of $60.87. The stock has a market capitalization of $947.80 million, a PE ratio of -25.58 and a beta of 5.41. The firm has a 50-day moving average price of $18.30 and a two-hundred day moving average price of $22.31.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.07. The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.50 million. On average, research analysts predict that Nano Nuclear Energy Inc. will post -0.8 EPS for the current year.

Nano Nuclear Energy Company Profile

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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