Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $39.00.

Several equities research analysts recently weighed in on NNE shares. New Street Research set a $45.00 price objective on Nano Nuclear Energy in a report on Thursday, August 13th. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Thursday, August 13th. Truist Financial assumed coverage on Nano Nuclear Energy in a research report on Monday, July 13th. They issued a “hold” rating and a $22.00 target price for the company. Northland Securities set a $37.00 price target on Nano Nuclear Energy in a research note on Friday, August 14th. Finally, Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th.

Insider Transactions at Nano Nuclear Energy

In related news, CEO James Walker sold 25,000 shares of Nano Nuclear Energy stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total transaction of $444,250.00. Following the sale, the chief executive officer directly owned 635,000 shares in the company, valued at $11,283,950. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

Several large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Nano Nuclear Energy in the second quarter worth $73,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nano Nuclear Energy by 11,676.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock worth $66,564,000 after purchasing an additional 1,711,592 shares during the last quarter. Weiss Asset Management LP bought a new position in Nano Nuclear Energy during the 4th quarter worth $38,224,000. Ghisallo Capital Management LLC bought a new position in Nano Nuclear Energy during the 4th quarter worth $38,224,000. Finally, Regal Partners Ltd acquired a new position in Nano Nuclear Energy during the 4th quarter worth about $23,535,000.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE opened at $17.72 on Tuesday. Nano Nuclear Energy has a one year low of $14.71 and a one year high of $60.87. The company has a market cap of $951.56 million, a price-to-earnings ratio of -25.68 and a beta of 5.41. The firm has a 50 day simple moving average of $18.18 and a 200 day simple moving average of $22.20.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share 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 the consensus estimate of $0.50 million. As a group, analysts expect that Nano Nuclear Energy 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.