Nano Nuclear Energy Inc. (NASDAQ:NNE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) has received a consensus rating of "Moderate Buy" from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has assigned 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 $39.00.

A number of equities analysts recently commented on the company. Truist Financial started coverage on Nano Nuclear Energy in a report on Monday, July 13th. They set a "hold" rating and a $22.00 price target for the company. New Street Research set a $45.00 price target on Nano Nuclear Energy in a research note on Thursday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Roth Capital started 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. Finally, Benchmark reiterated a "buy" rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th.

Nano Nuclear Energy Price Performance

Nano Nuclear Energy stock opened at $17.72 on Tuesday. The firm has a 50-day moving average of $18.18 and a 200-day moving average of $22.20. Nano Nuclear Energy has a one year low of $14.71 and a one year high of $60.87. The company has a market cap of $951.56 million, a price-to-earnings ratio of -25.68 and a beta of 5.41.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate 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. As a group, sell-side analysts expect that Nano Nuclear Energy will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO James Walker sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total value of $444,250.00. Following the completion of the transaction, the chief executive officer directly owned 635,000 shares in the company, valued at approximately $11,283,950. The trade was a 3.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its holdings in shares of Nano Nuclear Energy by 9.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company's stock valued at $105,000 after purchasing an additional 381 shares in the last quarter. US Bancorp DE boosted its stake in Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company's stock valued at $45,000 after buying an additional 400 shares in the last quarter. Swiss National Bank boosted its stake in Nano Nuclear Energy by 1.2% in the third quarter. Swiss National Bank now owns 60,300 shares of the company's stock valued at $2,325,000 after buying an additional 700 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in Nano Nuclear Energy by 7.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 10,320 shares of the company's stock valued at $211,000 after buying an additional 720 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Nano Nuclear Energy by 4.3% in the first quarter. The Manufacturers Life Insurance Company now owns 19,058 shares of the company's stock valued at $390,000 after acquiring an additional 793 shares during the last quarter.

About Nano Nuclear Energy

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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