Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives $39.00 Consensus Price Target from Brokerages

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.00.

Several analysts recently issued reports on the company. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Truist Financial initiated coverage on Nano Nuclear Energy in a report on Monday, July 13th. They issued a “hold” rating and a $22.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Roth Capital initiated 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. Finally, Wall Street Zen lowered Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th.

Insiders Place Their Bets

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the company’s stock in a transaction dated 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 insider owned 8,224,000 shares in the company, valued at approximately $219,416,320. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total value of $18,676,000.00. Following the completion of the transaction, the chairman owned 8,224,000 shares in the company, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,616,981 shares of company stock worth $43,096,346. 32.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbour Investments Inc. boosted its position 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 acquiring an additional 863 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Nano Nuclear Energy by 165.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock worth $32,000 after purchasing an additional 835 shares during the last quarter. Ascentis Independent Advisors bought a new stake in Nano Nuclear Energy in the first quarter worth $36,000. US Bancorp DE raised its stake in Nano Nuclear Energy by 51.9% during the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Nano Nuclear Energy during the third quarter valued at $48,000.

Nano Nuclear Energy Stock Performance

NNE stock opened at $15.59 on Monday. The firm has a 50 day moving average of $22.63 and a 200-day moving average of $25.00. Nano Nuclear Energy has a 12 month low of $15.44 and a 12 month high of $60.87. The firm has a market capitalization of $811.97 million, a P/E ratio of -22.59 and a beta of 5.27.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. Sell-side analysts predict that Nano Nuclear Energy will post -0.93 EPS for the current year.

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.