Nano Nuclear Energy (NASDAQ:NNE) Now Covered by Needham & Company LLC

Key Points

• Needham & Company initiated coverage of Nano Nuclear Energy with a Buy rating and a $33 price target, implying approximately 110% upside from the stock’s $15.73 opening price.
• Analyst sentiment is broadly positive, with a consensus rating of Moderate Buy and an average price target of $38, though published targets range from $22 to $46.
• Nano Nuclear reported a quarterly loss of $0.19 per share, better than the expected $0.26 loss, but revenue of $0.21 million fell short of the $0.50 million estimate. The company develops portable microreactors, including its ZEUS and ODIN systems.

Needham & Company LLC started coverage on shares of Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $33.00 price target on the stock. Needham & Company LLC's price objective indicates a potential upside of 109.79% from the company's current price.

NNE has been the topic of a number of other reports. Northland Securities set a $37.00 target price on shares of Nano Nuclear Energy in a research note on Friday, August 14th. 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. Truist Financial started coverage on shares of Nano Nuclear Energy in a report on Monday, July 13th. They issued a "hold" rating and a $22.00 price target on the stock. Alliance Global Partners began coverage on Nano Nuclear Energy in a research note on Monday, July 27th. They issued a "buy" rating and a $46.00 price objective on the stock. Finally, Roth Capital began 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

Nano Nuclear Energy Price Performance

NASDAQ NNE opened at $15.73 on Monday. The stock has a market capitalization of $844.70 million, a price-to-earnings ratio of -22.80 and a beta of 5.41. Nano Nuclear Energy has a one year low of $14.71 and a one year high of $60.87. The business's fifty day moving average is $17.65 and its 200-day moving average is $21.62.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share 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. Research analysts expect that Nano Nuclear Energy will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nano Nuclear Energy news, CEO James Walker sold 25,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total transaction of $444,250.00. Following the completion of the transaction, the chief executive officer owned 635,000 shares in the company, valued at $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 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 corporate insiders.

Institutional Trading of Nano Nuclear Energy

Institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP bought a new position in Nano Nuclear Energy in the 2nd quarter worth approximately $302,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Nano Nuclear Energy during the second quarter worth $289,000. Ameritas Advisory Services LLC purchased a new stake in shares of Nano Nuclear Energy during the second quarter worth $778,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Nano Nuclear Energy by 5.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,266 shares of the company's stock worth $1,337,000 after acquiring an additional 2,993 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Nano Nuclear Energy by 26.9% in the second quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company's stock worth $80,752,000 after acquiring an additional 810,022 shares during the period.

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.

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