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

Nano Nuclear Energy Inc. (NASDAQ:NNE) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $47.00.

Several research firms have recently weighed in on NNE. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Friday, August 15th. Finally, BTIG Research initiated coverage on Nano Nuclear Energy in a report on Thursday, August 28th. They issued a “neutral” rating for the company.

Nano Nuclear Energy Stock Down 4.7%

Shares of Nano Nuclear Energy stock opened at $36.13 on Wednesday. Nano Nuclear Energy has a 12-month low of $17.26 and a 12-month high of $60.87. The firm has a market capitalization of $1.82 billion, a PE ratio of -38.85 and a beta of 6.80. The stock’s fifty day moving average is $42.06 and its 200-day moving average is $35.75.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. Analysts expect that Nano Nuclear Energy will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Nano Nuclear Energy by 206.8% in the 1st quarter. Bank of New York Mellon Corp now owns 58,530 shares of the company’s stock valued at $1,549,000 after purchasing an additional 39,453 shares during the period. New York State Common Retirement Fund grew its position in Nano Nuclear Energy by 533.3% during the first quarter. New York State Common Retirement Fund now owns 7,600 shares of the company’s stock valued at $201,000 after purchasing an additional 6,400 shares in the last quarter. CWM LLC increased its stake in Nano Nuclear Energy by 237.2% in the 1st quarter. CWM LLC now owns 5,173 shares of the company’s stock valued at $137,000 after buying an additional 3,639 shares during the period. IFP Advisors Inc lifted its position in Nano Nuclear Energy by 118.6% in the 1st quarter. IFP Advisors Inc now owns 3,228 shares of the company’s stock worth $85,000 after buying an additional 1,751 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Nano Nuclear Energy in the 1st quarter worth approximately $122,000.

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.