BlackRock Inc. Invests $73.83 Million in Nano Nuclear Energy Inc. $NNE

Key Points

• BlackRock acquired 3.49 million shares of Nano Nuclear Energy in the second quarter, valued at approximately $73.83 million and representing about 6.5% of the company.
• Analyst sentiment is mixed but leans positive: Nano Nuclear has a consensus “Moderate Buy” rating and an average price target of $39, compared with shares opening at $17.97.
• The company reported a quarterly loss of $0.19 per share, beating estimates, but revenue of $0.21 million fell short of expectations. Meanwhile, insiders sold approximately $43.1 million of stock over the past three months.

BlackRock Inc. purchased a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,492,260 shares of the company's stock, valued at approximately $73,826,000. BlackRock Inc. owned about 6.50% of Nano Nuclear Energy as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NNE. SBI Securities Co. Ltd. lifted its holdings 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 valued at $105,000 after purchasing an additional 381 shares during the last quarter. US Bancorp DE raised its position in shares of Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company's stock valued at $45,000 after purchasing an additional 400 shares during the period. Swiss National Bank lifted its stake in shares of Nano Nuclear Energy by 1.2% during 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. Pine Valley Investments Ltd Liability Co boosted its holdings in Nano Nuclear Energy by 7.5% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company's stock worth $211,000 after buying an additional 720 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Nano Nuclear Energy by 4.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company's stock worth $390,000 after buying an additional 793 shares during the period.

Wall Street Analyst Weigh In

NNE has been the subject of a number of analyst reports. Benchmark restated a "buy" rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th. Truist Financial assumed coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They issued a "hold" rating and a $22.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Northland Securities set a $37.00 price objective on Nano Nuclear Energy in a research report on Friday, August 14th. Finally, Wall Street Zen raised Nano Nuclear Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Nano Nuclear Energy Stock Performance

Shares of Nano Nuclear Energy stock opened at $17.97 on Monday. Nano Nuclear Energy Inc. has a 12 month low of $14.71 and a 12 month high of $60.87. The firm has a market capitalization of $964.99 million, a P/E ratio of -26.04 and a beta of 5.42. The business has a fifty day simple moving average of $18.74 and a two-hundred day simple moving average of $22.52.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.07. The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. Analysts predict that Nano Nuclear Energy Inc. will post -0.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the completion of the transaction, the chief financial officer owned 345,000 shares of the company's stock, valued at approximately $9,135,600. This trade represents a 9.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Florent Heidet sold 3,000 shares of Nano Nuclear Energy stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.95, for a total transaction of $74,850.00. Following the transaction, the chief technology officer directly owned 6,185 shares of the company's stock, valued at $154,315.75. The trade was a 32.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,616,981 shares of company stock worth $43,096,346 in the last three months. 18.61% of the stock is owned by company insiders.

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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