Van ECK Associates Corp Boosts Stake in Nano Nuclear Energy Inc. $NNE

Key Points

• VanEck boosted its stake in Nano Nuclear Energy by 65.7% in Q3, buying 1,030,262 shares to own 2,598,280 shares (5.17% of the company) valued at about $100.19 million.
• Significant insider selling: Chairman Jiang Yu sold 766,661 shares at an average of $34.14 (an 8.08% reduction), and insiders have sold 3,985,664 shares worth $125.7 million in the last 90 days, with insiders still owning 32.77% of the stock.
• NANO has a market cap of $1.24 billion, a negative P/E of -22.13, a 12‑month range of $17.26–$60.87, and an average analyst rating of "Moderate Buy" with a $47.00 target price.

Van ECK Associates Corp boosted its stake in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) by 65.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,598,280 shares of the company's stock after buying an additional 1,030,262 shares during the quarter. Van ECK Associates Corp owned 5.17% of Nano Nuclear Energy worth $100,190,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Archer Investment Corp acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $39,000. Tripletail Wealth Management LLC acquired a new position in Nano Nuclear Energy in the third quarter valued at approximately $43,000. US Bancorp DE increased its stake in 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 last quarter. NewEdge Advisors LLC raised its holdings in Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company's stock worth $51,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Total Investment Management Inc. purchased a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth approximately $60,000.

Nano Nuclear Energy Trading Up 0.9%

Shares of Nano Nuclear Energy stock opened at $23.90 on Wednesday. Nano Nuclear Energy Inc. has a twelve month low of $17.26 and a twelve month high of $60.87. The stock has a market capitalization of $1.24 billion, a P/E ratio of -22.13 and a beta of 7.59. The business's fifty day moving average price is $28.96 and its 200 day moving average price is $34.56.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.19. As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling at Nano Nuclear Energy

In other news, Chairman Jiang Yu sold 766,661 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the transaction, the chairman owned 8,724,000 shares of the company's stock, valued at approximately $297,837,360. This trade represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder I Financial Ventures Group Llc sold 766,661 shares of the business's stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the sale, the insider owned 8,724,000 shares of the company's stock, valued at approximately $297,837,360. The trade was a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,985,664 shares of company stock worth $125,727,253 in the last ninety days. 32.77% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Benchmark restated a "buy" rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Thursday, January 22nd. Finally, Texas Capital upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Nano Nuclear Energy currently has an average 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.

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