Nano Nuclear Energy Inc. (NASDAQ:NNE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nano Nuclear Energy Inc. (NASDAQ:NNE) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $47.00.

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th. Finally, Texas Capital upgraded shares of Nano Nuclear Energy to a “strong-buy” rating in a research note on Tuesday, January 27th.

Nano Nuclear Energy Price Performance

NASDAQ NNE opened at $27.09 on Wednesday. Nano Nuclear Energy has a 1 year low of $18.93 and a 1 year high of $60.87. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -25.08 and a beta of 5.15. The company has a fifty day moving average price of $23.48 and a 200-day moving average price of $29.38.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.19. On average, research analysts anticipate that Nano Nuclear Energy will post -1.4 EPS for the current fiscal year.

Insider Activity

In related news, Director Seth Jason Berl sold 3,664 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $27.69, for a total value of $101,456.16. Following the transaction, the director directly owned 3,836 shares of the company’s stock, valued at approximately $106,218.84. The trade was a 48.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.77% of the stock is currently owned by insiders.

Institutional Trading of Nano Nuclear Energy

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Nano Nuclear Energy by 441.3% in the third quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock worth $2,854,000 after acquiring an additional 60,336 shares during the period. SG Americas Securities LLC raised its position in Nano Nuclear Energy by 549.0% in the third quarter. SG Americas Securities LLC now owns 33,408 shares of the company’s stock worth $1,288,000 after acquiring an additional 28,260 shares during the period. Van ECK Associates Corp raised its position in Nano Nuclear Energy by 65.7% in the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after acquiring an additional 1,030,262 shares during the period. Vanguard Group Inc. raised its position in Nano Nuclear Energy by 40.9% in the third quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock worth $68,547,000 after acquiring an additional 516,129 shares during the period. Finally, UBS Group AG raised its position in Nano Nuclear Energy by 135.7% in the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock worth $27,805,000 after acquiring an additional 666,722 shares during the period.

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.