Nano Nuclear Energy (NASDAQ:NNE) Research Coverage Started at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Nano Nuclear Energy (NASDAQ:NNE) in a research note published on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $33.00 target price on the stock.

A number of other research analysts also recently commented on NNE. Roth Capital started coverage on Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price target for the company. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Friday, July 17th. Truist Financial started coverage on shares of Nano Nuclear Energy in a research report on Monday, July 13th. They issued a “hold” rating and a $22.00 target price for the company. Finally, Alliance Global Partners assumed coverage on shares of Nano Nuclear Energy in a report on Monday, July 27th. They set a “buy” rating and a $46.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Nano Nuclear Energy Trading Down 1.8%

Shares of NASDAQ NNE opened at $17.01 on Monday. The company has a market capitalization of $913.44 million, a P/E ratio of -24.65 and a beta of 5.41. Nano Nuclear Energy has a 12 month low of $14.71 and a 12 month high of $60.87. The stock has a 50 day moving average of $17.59 and a 200-day moving average of $21.43.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. Analysts predict that Nano Nuclear Energy will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James Walker sold 25,000 shares of the firm’s 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 directly owned 635,000 shares of the company’s stock, valued at $11,283,950. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of Nano Nuclear Energy by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock valued at $80,752,000 after purchasing an additional 810,022 shares in the last quarter. BlackRock Inc. acquired a new position in Nano Nuclear Energy during the 2nd quarter worth approximately $73,826,000. Lido Advisors LLC increased its position in Nano Nuclear Energy by 1,769.6% during the 1st quarter. Lido Advisors LLC now owns 171,932 shares of the company’s stock worth $3,521,000 after purchasing an additional 162,736 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Nano Nuclear Energy in the 2nd quarter valued at approximately $2,814,000. Finally, Cetera Investment Advisers lifted its stake in Nano Nuclear Energy by 7.0% in the 1st quarter. Cetera Investment Advisers now owns 109,000 shares of the company’s stock valued at $2,232,000 after purchasing an additional 7,166 shares during the last quarter.

About Nano Nuclear Energy

NANO Nuclear Energy Inc is an advanced nuclear energy company focused on developing portable microreactors and related nuclear fuel and transportation capabilities. The company is pursuing reactor systems designed to provide reliable, carbon-free power for applications that may be difficult or costly to serve with traditional grid infrastructure.

Its product development portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor. The company is also developing the KRONOS micro modular reactor, while pursuing capabilities related to nuclear fuel fabrication, transportation and other supporting services.