Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives Average Rating of “Moderate Buy” from Brokerages

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $39.00.

A number of analysts have recently weighed in on NNE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Truist Financial assumed coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They set a “hold” rating and a $22.00 price objective for the company. Wall Street Zen downgraded shares of Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Finally, Roth Capital began 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 7.6%

NNE opened at $15.59 on Monday. Nano Nuclear Energy has a twelve month low of $15.44 and a twelve month high of $60.87. The firm has a market cap of $811.93 million, a price-to-earnings ratio of -22.59 and a beta of 5.27. The company has a fifty day simple moving average of $22.63 and a 200 day simple moving average of $25.04.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data 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. On average, analysts forecast that Nano Nuclear Energy will post -0.93 earnings per share for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, Chairman Jiang Yu sold 700,000 shares of the 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 sale, the chairman directly owned 8,224,000 shares of the company’s stock, valued at $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.92, for a total value of $93,450.00. Following the completion of the sale, the director directly owned 7,586 shares in the company, valued at $189,043.12. This represents a 33.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,616,981 shares of company stock valued at $43,096,346 over the last 90 days. Corporate insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently modified their holdings of NNE. Harbour Investments Inc. increased its position in Nano Nuclear Energy by 275.7% in 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 period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Nano Nuclear Energy by 165.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after purchasing an additional 835 shares in the last quarter. Ascentis Independent Advisors acquired a new stake in Nano Nuclear Energy in the first quarter worth about $36,000. US Bancorp DE lifted its holdings in Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy in the third quarter worth about $48,000.

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.