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

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $39.00.

Several brokerages recently weighed in on NNE. Roth Capital started coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a “buy” rating and a $45.00 target price on the stock. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th. Truist Financial began coverage on shares of Nano Nuclear Energy in a research note on Monday, July 13th. They issued a “hold” rating and a $22.00 price target for the company. New Street Research set a $45.00 price objective on Nano Nuclear Energy in a research report on Thursday, August 13th. Finally, Northland Securities set a $37.00 price objective on Nano Nuclear Energy in a research note on Friday, August 14th.

Insiders Place Their Bets

In other Nano Nuclear Energy news, CEO James Walker sold 25,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total value of $444,250.00. Following the sale, the chief executive officer owned 635,000 shares of the company’s stock, valued at $11,283,950. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is currently owned by company insiders.

Institutional Trading of Nano Nuclear Energy

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in Nano Nuclear Energy by 51.9% in 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 during the last quarter. Harbour Investments Inc. lifted 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 worth $28,000 after buying an additional 863 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at $48,000. Ascentis Independent Advisors acquired a new position in shares of Nano Nuclear Energy in the 1st quarter valued at $36,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Nano Nuclear Energy by 385.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock valued at $51,000 after buying an additional 1,520 shares in the last quarter.

Nano Nuclear Energy Stock Down 5.5%

NASDAQ:NNE opened at $16.41 on Tuesday. The stock’s fifty day moving average is $17.97 and its two-hundred day moving average is $22.02. Nano Nuclear Energy has a 52 week low of $14.71 and a 52 week high of $60.87. The stock has a market capitalization of $881.22 million, a price-to-earnings ratio of -23.78 and a beta of 5.41.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Nano Nuclear Energy will post -0.8 EPS for the current fiscal 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.