Alliance Global Partners Begins Coverage on Nano Nuclear Energy (NASDAQ:NNE)

Key Points

• Alliance Global Partners initiated coverage of Nano Nuclear Energy with a “buy” rating and a $46 price target, implying approximately 195% upside from the prior close.
• Analyst sentiment is mixed but leans positive: Nano Nuclear has a consensus “Moderate Buy” rating and an average price target of $40.75, with ratings ranging from Strong Buy to Sell.
• The stock opened at $15.59 and has fallen sharply from its 52-week high of $60.87. Insiders sold 1.62 million shares worth about $43.1 million over the past 90 days, while the company reported a quarterly loss of $0.18 per share.

Research analysts at Alliance Global Partners assumed coverage on shares of Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) in a report released on Monday, Marketbeat reports. The firm set a "buy" rating and a $46.00 price target on the stock. Alliance Global Partners' target price would suggest a potential upside of 195.06% from the company's previous close.

Several other research analysts have also recently issued reports on NNE. Benchmark reissued a "buy" rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Wall Street Zen lowered Nano Nuclear Energy from a "sell" rating to a "strong sell" rating in a research note on Saturday, July 18th. 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 Nano Nuclear Energy in a research note on Monday, July 13th. They issued a "hold" rating and a $22.00 target price on the stock. Finally, Roth Capital began 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.75.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE opened at $15.59 on Monday. Nano Nuclear Energy has a 52-week low of $15.44 and a 52-week high of $60.87. The stock has a market cap of $811.97 million, a price-to-earnings ratio of -22.59 and a beta of 5.27. The business has a 50-day moving average price of $22.63 and a 200-day moving average price of $25.00.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.08. As a group, equities analysts anticipate that Nano Nuclear Energy will post -0.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total value of $18,676,000.00. Following the completion of the transaction, the insider owned 8,224,000 shares in the company, valued at approximately $219,416,320. This represents a 7.84% 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, Chairman Jiang Yu sold 700,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the sale, the chairman directly owned 8,224,000 shares in the company, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 ninety days. Company insiders own 32.77% of the company's stock.

Institutional Trading of Nano Nuclear Energy

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of Nano Nuclear Energy by 185.2% during the 1st quarter. Royal Bank of Canada now owns 21,143 shares of the company's stock worth $560,000 after buying an additional 13,730 shares during the period. AQR Capital Management LLC acquired a new position in Nano Nuclear Energy during the first quarter worth $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nano Nuclear Energy by 535.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company's stock valued at $385,000 after purchasing an additional 12,256 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Nano Nuclear Energy by 385.8% in the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company's stock valued at $51,000 after purchasing an additional 1,520 shares during the period. Finally, Creative Planning purchased a new stake in shares of Nano Nuclear Energy during the second quarter worth about $316,000.

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.

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