Nano Nuclear Energy Inc. (NASDAQ:NNE) Stock Has Consensus Target Price of $38.14

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.14.

A number of brokerages have issued reports on NNE. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th. New Street Research set a $45.00 price target on Nano Nuclear Energy in a research note on Thursday, August 13th. Roth Capital assumed coverage on Nano Nuclear Energy in a research report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price target on the stock. Truist Financial assumed coverage on Nano Nuclear Energy in a research note on Monday, July 13th. They set a “hold” rating and a $22.00 price objective on the stock. Finally, Susquehanna set a $39.00 price objective on Nano Nuclear Energy in a report on Thursday, October 1st.

Insider Activity at Nano Nuclear Energy

In related news, CEO James Walker sold 25,000 shares of the firm’s stock in a transaction on 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 owned 635,000 shares in the company, valued at approximately $11,283,950. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 18.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new position in Nano Nuclear Energy during the second quarter valued at approximately $302,000. Integrated Wealth Concepts LLC bought a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at $289,000. Ameritas Advisory Services LLC bought a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at $778,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Nano Nuclear Energy by 5.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,266 shares of the company’s stock valued at $1,337,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of 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 buying an additional 810,022 shares in the last quarter.

Nano Nuclear Energy Stock Performance

Shares of Nano Nuclear Energy stock opened at $15.34 on Friday. The firm has a 50-day moving average of $17.51 and a 200-day moving average of $20.88. Nano Nuclear Energy has a 52-week low of $14.71 and a 52-week high of $60.87. The stock has a market cap of $823.76 million, a PE ratio of -22.23 and a beta of 5.49.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.50 million. Equities research analysts predict that Nano Nuclear Energy will post -0.80 earnings per share for the current fiscal year.

Nano Nuclear Energy Company Profile

Nano Nuclear Energy, Inc is an advanced nuclear energy technology company developing portable microreactors and related nuclear-fuel capabilities. The company’s objective is to provide compact, transportable power systems for applications that may not be well served by conventional nuclear plants or electrical grids.

Its principal reactor concepts include ZEUS, a solid-core battery reactor designed for off-grid power generation, and ODIN, a molten-salt reactor concept intended to produce electricity and industrial heat.