Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives $47.00 Consensus Target Price from Brokerages

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

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Benchmark reaffirmed a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd.

Nano Nuclear Energy Stock Down 0.8%

NASDAQ NNE opened at $26.16 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -37.91 and a beta of 5.05. The business has a 50-day moving average price of $24.62 and a 200-day moving average price of $27.64. Nano Nuclear Energy has a twelve month low of $18.93 and a twelve month high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. Research analysts expect that Nano Nuclear Energy will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Hedge funds have recently made changes to their positions in the business. Axiom Investment Management LLC purchased a new stake in shares of Nano Nuclear Energy in the first quarter worth about $246,000. The Manufacturers Life Insurance Company lifted its position in shares of Nano Nuclear Energy by 4.3% in the first quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock worth $390,000 after buying an additional 793 shares in the last quarter. Themes Management Co LLC lifted its position in shares of Nano Nuclear Energy by 102.8% in the first quarter. Themes Management Co LLC now owns 24,449 shares of the company’s stock worth $501,000 after buying an additional 12,396 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Nano Nuclear Energy by 1,769.6% in the first quarter. Lido Advisors LLC now owns 171,932 shares of the company’s stock worth $3,521,000 after buying an additional 162,736 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in shares of Nano Nuclear Energy by 883.9% in the first quarter. Walleye Capital LLC now owns 48,210 shares of the company’s stock worth $987,000 after buying an additional 43,310 shares in the last quarter.

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.