Needham & Company LLC Begins Coverage on Nano Nuclear Energy (NASDAQ:NNE)

Needham & Company LLC began coverage on shares of Nano Nuclear Energy (NASDAQ:NNEGet Free Report) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $33.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 90.53% from the company’s previous close.

A number of other research firms also recently issued reports on NNE. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Alliance Global Partners started coverage on shares of Nano Nuclear Energy in a report on Monday, July 27th. They issued a “buy” rating and a $46.00 target price for the company. Roth Capital initiated coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Check Out Our Latest Stock Analysis on Nano Nuclear Energy

Nano Nuclear Energy Stock Performance

Shares of Nano Nuclear Energy stock opened at $17.32 on Monday. 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 $930.08 million, a price-to-earnings ratio of -25.10 and a beta of 5.41. The business’s 50 day moving average price is $17.61 and its 200 day moving average price is $21.49.

Nano Nuclear Energy (NASDAQ:NNEGet Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.07. The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. On average, analysts predict that Nano Nuclear Energy will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at Nano Nuclear Energy

In other news, CEO James Walker sold 25,000 shares of the business’s 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 completion of the sale, the chief executive officer owned 635,000 shares in the company, valued at approximately $11,283,950. The trade was a 3.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 18.61% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP acquired a new position in Nano Nuclear Energy in the second quarter valued at $302,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at about $289,000. Ameritas Advisory Services LLC acquired a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at about $778,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Nano Nuclear Energy by 5.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,266 shares of the company’s stock valued at $1,337,000 after purchasing an additional 2,993 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Nano Nuclear Energy by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock valued at $80,752,000 after purchasing an additional 810,022 shares during the period.

Trending Headlines about Nano Nuclear Energy

Here are the key news stories impacting Nano Nuclear Energy this week:

  • Positive Sentiment: Needham & Company initiated coverage of Nano Nuclear Energy with a Buy rating and a $33 price target, implying roughly 90% upside from the referenced $17.32 share price. The coverage gives NNE additional institutional visibility and reflects optimism about the company’s microreactor development pipeline. NANO Nuclear Energy initiated with Buy rating at Needham
  • Positive Sentiment: The bullish view coincides with NNE’s Kronos microreactor entering review by the U.S. Nuclear Regulatory Commission. Progress toward regulatory evaluation is an important milestone that could improve investor confidence in the company’s commercialization prospects. Why Nano Nuclear Energy Stock Is Powering Higher Today
  • Neutral Sentiment: The Needham target is substantially above NNE’s recent trading level, but the company remains an unprofitable, highly volatile development-stage business. Its shares trade well below the one-year high, so the forecast reflects considerable execution and regulatory risk.
  • Negative Sentiment: Northland Securities lowered its FY2027 EPS estimate for Nano Nuclear Energy, signaling expectations for deeper or longer-lasting losses. The estimate reduction may temper enthusiasm around the new Buy rating, particularly because NNE has limited revenue and continues to depend on future development milestones. NNE FY2027 EPS Estimate Decreased by Northland Securities

Nano Nuclear Energy Company Profile

(Get Free Report)

NANO Nuclear Energy Inc is an advanced nuclear energy company focused on developing portable microreactors and related nuclear fuel and transportation capabilities. The company is pursuing reactor systems designed to provide reliable, carbon-free power for applications that may be difficult or costly to serve with traditional grid infrastructure.

Its product development portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor. The company is also developing the KRONOS micro modular reactor, while pursuing capabilities related to nuclear fuel fabrication, transportation and other supporting services.

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Analyst Recommendations for Nano Nuclear Energy (NASDAQ:NNE)

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