Vanguard Group Inc. Acquires 516,129 Shares of Nano Nuclear Energy Inc. $NNE

Key Points

• Vanguard increased its stake by 40.9%, buying 516,129 shares to hold 1,777,684 shares (about 3.54% of Nano Nuclear) valued at $68.55 million at the end of the quarter.
• Heavy insider selling occurred recently — company insiders sold 3,985,664 shares worth $125.7 million over the last 90 days, including CEO James John Walker's sale of 195,000 shares for $6.64 million (he now owns 250,000 shares).
• NANO shares opened at $23.54 and were down 7.9%; the company has a $1.23 billion market cap, and analysts have an average rating of "Moderate Buy" with a consensus price target of $47.00.

Vanguard Group Inc. increased its holdings in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) by 40.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,777,684 shares of the company's stock after acquiring an additional 516,129 shares during the period. Vanguard Group Inc. owned about 3.54% of Nano Nuclear Energy worth $68,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MRA Advisory Group raised its position in Nano Nuclear Energy by 58.7% in the third quarter. MRA Advisory Group now owns 10,134 shares of the company's stock worth $391,000 after purchasing an additional 3,749 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Nano Nuclear Energy by 441.3% during the third quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company's stock valued at $2,854,000 after purchasing an additional 60,336 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in Nano Nuclear Energy during the third quarter valued at approximately $235,000. Caprock Group LLC bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at approximately $1,347,000. Finally, Rhumbline Advisers grew its stake in shares of Nano Nuclear Energy by 6.9% in the 3rd quarter. Rhumbline Advisers now owns 40,900 shares of the company's stock valued at $1,577,000 after purchasing an additional 2,631 shares during the period.

Insider Buying and Selling at Nano Nuclear Energy

In related news, CEO James John Walker sold 195,000 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total transaction of $6,637,800.00. Following the sale, the chief executive officer directly owned 250,000 shares in the company, valued at $8,510,000. This represents a 43.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Seth Jason Berl sold 3,664 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $27.69, for a total value of $101,456.16. Following the sale, the director directly owned 3,836 shares of the company's stock, valued at $106,218.84. This represents a 48.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,985,664 shares of company stock worth $125,727,253 over the last 90 days. Company insiders own 32.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Benchmark restated a "buy" rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Thursday, January 22nd. Finally, Texas Capital upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.00.

Nano Nuclear Energy Stock Down 7.9%

NASDAQ:NNE opened at $23.54 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of -21.80 and a beta of 7.59. Nano Nuclear Energy Inc. has a 12 month low of $17.26 and a 12 month high of $60.87. The company's 50-day moving average price is $29.04 and its two-hundred day moving average price is $34.57.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.19. On average, research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Nano Nuclear Energy 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.