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

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $39.00.

A number of equities analysts have weighed in on the stock. Alliance Global Partners began coverage on shares of Nano Nuclear Energy in a research note on Monday, July 27th. They set a “buy” rating and a $46.00 price target on the stock. New Street Research set a $45.00 price objective on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Roth Capital started coverage on Nano Nuclear Energy in a report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price objective for the company. Truist Financial started coverage on Nano Nuclear Energy in a research report on Monday, July 13th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Northland Securities set a $37.00 target price on Nano Nuclear Energy in a report on Friday, August 14th.

Insider Activity at Nano Nuclear Energy

In other 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 transaction, the chief executive officer directly owned 635,000 shares in the company, valued at $11,283,950. This trade represents a 3.79% 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. 18.61% of the stock is currently owned by company insiders.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at $73,826,000. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 486,367 shares in the last quarter. Van ECK Associates Corp boosted its position in Nano Nuclear Energy by 26.9% during the 2nd quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock worth $80,752,000 after purchasing an additional 810,022 shares during the period. Lido Advisors LLC increased its holdings in Nano Nuclear Energy by 1,769.6% in the 1st quarter. Lido Advisors LLC now owns 171,932 shares of the company’s stock valued at $3,521,000 after purchasing an additional 162,736 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Nano Nuclear Energy in the 2nd quarter valued at $2,814,000.

Nano Nuclear Energy Trading Down 3.2%

NASDAQ NNE opened at $15.89 on Tuesday. The business’s 50-day moving average price is $17.88 and its 200 day moving average price is $21.93. Nano Nuclear Energy has a twelve month low of $14.71 and a twelve month high of $60.87. The company has a market capitalization of $853.29 million, a PE ratio of -23.03 and a beta of 5.41.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $0.50 million. Equities analysts predict that Nano Nuclear Energy will post -0.8 EPS for the current year.

Nano Nuclear Energy Company Profile

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.