Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives $41.60 Consensus Target Price from Analysts

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

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Friday, July 17th. Northland Securities set a $37.00 price target on Nano Nuclear Energy in a research note on Friday, August 14th. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Thursday, August 13th. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Alliance Global Partners began coverage on Nano Nuclear Energy in a report on Monday, July 27th. They set a “buy” rating and a $46.00 target price for the company.

Insider Activity at Nano Nuclear Energy

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the transaction, the insider directly owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. This trade represents a 7.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of Nano Nuclear Energy stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the sale, the chairman owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. 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 sold a total of 1,616,981 shares of company stock worth $43,096,346 in the last ninety days. 18.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its position in Nano Nuclear Energy by 9.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock worth $105,000 after purchasing an additional 381 shares in the last quarter. US Bancorp DE grew its stake in shares of Nano Nuclear Energy by 51.9% during the 3rd 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. Swiss National Bank increased its holdings in shares of Nano Nuclear Energy by 1.2% during the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after purchasing an additional 700 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Nano Nuclear Energy by 7.5% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company’s stock valued at $211,000 after purchasing an additional 720 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Nano Nuclear Energy by 4.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company’s stock valued at $390,000 after purchasing an additional 793 shares in the last quarter.

Nano Nuclear Energy Trading Down 4.8%

NASDAQ:NNE opened at $18.23 on Friday. Nano Nuclear Energy has a twelve month low of $14.71 and a twelve month high of $60.87. The company has a market cap of $978.95 million, a PE ratio of -26.42 and a beta of 5.42. The company’s 50 day moving average is $19.58 and its two-hundred day moving average is $22.93.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.50 million. As a group, analysts expect that Nano Nuclear Energy will post -0.84 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.