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

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $46.50.

NNE has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Tuesday, April 21st. Finally, Roth Mkm assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 target price on the stock.

Nano Nuclear Energy Trading Down 3.5%

Shares of NNE stock opened at $23.05 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -33.41 and a beta of 5.05. The firm’s 50 day moving average is $25.65 and its 200 day moving average is $26.95. Nano Nuclear Energy has a 12 month low of $18.93 and a 12 month high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly 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. On average, equities analysts predict that Nano Nuclear Energy will post -0.95 EPS for the current year.

Insiders Place Their Bets

In other Nano Nuclear Energy news, CFO Jaisun Garcha sold 37,215 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.48, for a total value of $985,453.20. Following the sale, the chief financial officer directly owned 345,000 shares in the company, valued at $9,135,600. This represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Florent Heidet sold 3,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.95, for a total transaction of $74,850.00. Following the completion of the sale, the chief technology officer owned 6,185 shares in the company, valued at $154,315.75. This represents a 32.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,616,981 shares of company stock worth $43,096,346. Company insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Nano Nuclear Energy by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after buying an additional 486,367 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock valued at $2,854,000 after buying an additional 60,336 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after buying an additional 1,030,262 shares in the last quarter. UBS Group AG raised its position in shares of Nano Nuclear Energy by 135.7% during the 4th quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock valued at $27,805,000 after buying an additional 666,722 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Nano Nuclear Energy by 16.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 346,123 shares of the company’s stock valued at $8,310,000 after buying an additional 47,960 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.