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

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

A number of research analysts recently commented on NNE shares. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st.

Insider Transactions at Nano Nuclear Energy

In related news, Director Seth Jason Berl sold 3,664 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $27.69, for a total value of $101,456.16. Following the completion of the transaction, the director owned 3,836 shares of the company’s stock, valued at $106,218.84. This represents a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nano Nuclear Energy by 11,676.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock worth $66,564,000 after purchasing an additional 1,711,592 shares in the last quarter. Weiss Asset Management LP acquired a new position in Nano Nuclear Energy during the fourth quarter worth $38,224,000. Ghisallo Capital Management LLC acquired a new position in Nano Nuclear Energy during the fourth quarter worth $38,224,000. Van ECK Associates Corp raised its stake in Nano Nuclear Energy by 65.7% during the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after acquiring an additional 1,030,262 shares in the last quarter. Finally, Regal Partners Ltd acquired a new position in Nano Nuclear Energy during the fourth quarter worth $23,535,000.

Nano Nuclear Energy Stock Performance

Shares of NNE opened at $28.88 on Friday. The company has a 50-day simple moving average of $24.08 and a 200-day simple moving average of $27.90. The firm has a market capitalization of $1.50 billion, a P/E ratio of -41.86 and a beta of 5.15. Nano Nuclear Energy has a 52 week low of $18.93 and a 52 week high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. As a group, equities analysts forecast that Nano Nuclear Energy will post -1.02 earnings per share for the current year.

Nano Nuclear Energy Company Profile

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.