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

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $39.00.

A number of analysts recently commented on NNE shares. Roth Capital initiated coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target for the company. Wall Street Zen cut Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday. Truist Financial initiated coverage on Nano Nuclear Energy in a research note on Monday, July 13th. They issued a “hold” rating and a $22.00 price objective for the company. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st.

Insider Activity at Nano Nuclear Energy

In other Nano Nuclear Energy news, CFO Jaisun Garcha sold 37,215 shares of Nano Nuclear Energy stock in a transaction dated 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 owned 345,000 shares of the company’s stock, valued at approximately $9,135,600. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO James John Walker sold 123,688 shares of Nano Nuclear Energy stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.49, for a total transaction of $3,276,495.12. Following the completion of the sale, the chief executive officer directly owned 555,000 shares in the company, valued at approximately $14,701,950. This represents a 18.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,616,981 shares of company stock valued at $43,096,346 in the last 90 days. 32.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NNE. Van ECK Associates Corp increased its stake in shares of Nano Nuclear Energy by 24.7% during the 4th quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock worth $77,825,000 after purchasing an additional 643,070 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after purchasing an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 valued at $66,564,000 after purchasing an additional 1,711,592 shares during the last quarter. Weiss Asset Management LP purchased a new position in Nano Nuclear Energy in the fourth quarter valued at approximately $38,224,000. Finally, Ghisallo Capital Management LLC bought a new position in Nano Nuclear Energy during the fourth quarter valued at $38,224,000.

Nano Nuclear Energy Stock Performance

Shares of NNE stock opened at $16.03 on Monday. The company has a market capitalization of $834.84 million, a price-to-earnings ratio of -23.23 and a beta of 5.27. Nano Nuclear Energy has a 52-week low of $15.44 and a 52-week high of $60.87. The company has a 50-day simple moving average of $23.66 and a two-hundred day simple moving average of $25.34.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.08. On average, sell-side analysts forecast that Nano Nuclear Energy will post -0.93 EPS for the current fiscal 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.