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

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $47.00.

Several equities research analysts have weighed in on the company. Texas Capital raised Nano Nuclear Energy to a “strong-buy” rating in a research report on Tuesday, January 27th. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Thursday, January 22nd.

Nano Nuclear Energy Trading Up 3.3%

Shares of NNE stock opened at $24.29 on Friday. The business’s fifty day simple moving average is $23.66 and its 200-day simple moving average is $32.00. The company has a market cap of $1.27 billion, a PE ratio of -22.49 and a beta of 7.25. Nano Nuclear Energy has a 12-month low of $17.26 and a 12-month high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.19. On average, equities analysts forecast that Nano Nuclear Energy will post -0.92 earnings per share for the current year.

Insider Activity

In related news, Chairman Jiang Yu sold 121,339 shares of Nano Nuclear Energy stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $31.78, for a total value of $3,856,153.42. Following the sale, the chairman directly owned 8,724,000 shares in the company, valued at approximately $277,248,720. The trade was a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Seth Jason Berl sold 3,664 shares of Nano Nuclear Energy stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $27.69, for a total value of $101,456.16. Following the completion of the sale, the director owned 3,836 shares in the company, valued at approximately $106,218.84. The trade was a 48.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 2,049,664 shares of company stock worth $69,352,176. 32.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its position in shares of Nano Nuclear Energy by 635.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,194 shares of the company’s stock valued at $221,000 after buying an additional 7,944 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $1,885,000. Invesco Ltd. raised its position in shares of Nano Nuclear Energy by 52.9% during the 4th quarter. Invesco Ltd. now owns 27,602 shares of the company’s stock valued at $663,000 after buying an additional 9,547 shares during the period. Regal Partners Ltd purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $23,535,000. Finally, Millennium Management LLC raised its position in shares of Nano Nuclear Energy by 810.0% during the 4th quarter. Millennium Management LLC now owns 205,607 shares of the company’s stock valued at $4,937,000 after buying an additional 183,013 shares during the period.

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.