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

Nano Nuclear Energy Inc. (NASDAQ:NNEGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $46.50.

NNE has been the topic of several research reports. Roth Mkm assumed coverage on shares of Nano Nuclear Energy in a research report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price objective on the stock. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Finally, Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th.

Check Out Our Latest Report on NNE

Nano Nuclear Energy Stock Performance

Nano Nuclear Energy stock opened at $23.05 on Thursday. The firm’s fifty day moving average price is $25.65 and its 200-day moving average price is $26.95. The stock has a market cap of $1.20 billion, a P/E ratio of -33.41 and a beta of 5.05. Nano Nuclear Energy has a fifty-two week low of $18.93 and a fifty-two week high of $60.87.

Nano Nuclear Energy (NASDAQ:NNEGet Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.08. On average, analysts predict that Nano Nuclear Energy will post -0.95 earnings per share for the current year.

Insider Activity at Nano Nuclear Energy

In related news, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total transaction of $985,453.20. Following the transaction, the chief financial officer owned 345,000 shares of the company’s stock, valued at approximately $9,135,600. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the chairman directly owned 8,224,000 shares in the company, valued at approximately $219,416,320. This represents a 7.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock worth $43,096,346 in the last 90 days. Corporate insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Harbour Investments Inc. grew its holdings in shares of Nano Nuclear Energy by 275.7% during the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after purchasing an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Nano Nuclear Energy by 165.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after acquiring an additional 835 shares during the last quarter. Ascentis Independent Advisors bought a new stake in Nano Nuclear Energy in the 1st quarter worth $36,000. US Bancorp DE grew its holdings in Nano Nuclear Energy by 51.9% in the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after acquiring an additional 400 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Nano Nuclear Energy in the 3rd quarter worth $48,000.

Nano Nuclear Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nano Nuclear Energy (NASDAQ:NNE)

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