Sheaff Brock Investment Advisors LLC Makes New $200,000 Investment in Nano Nuclear Energy Inc. (NASDAQ:NNE)

Key Points

• Sheaff Brock Investment Advisors LLC acquired 7,570 shares of Nano Nuclear Energy Inc. (NASDAQ:NNE), valued at approximately $200,000, marking the firm's entry into the stock during the first quarter.
• Wall Street analysts have a positive outlook on Nano Nuclear Energy, with Northland Securities giving the stock an "outperform" rating and setting a price target of $40, while four analysts rated it as a buy.
• Despite recent investor interest, Nano Nuclear Energy's shares are down 6.4%, with the current stock price opening at $35.45 and a significant disparity between its 52-week high of $48.05 and low of $6.30.

Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,570 shares of the company's stock, valued at approximately $200,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Anson Funds Management LP purchased a new position in Nano Nuclear Energy during the 4th quarter valued at $20,746,000. Hudson Bay Capital Management LP purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $19,642,000. Vanguard Group Inc. grew its position in shares of Nano Nuclear Energy by 2,838.5% in the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company's stock worth $17,068,000 after buying an additional 662,287 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $4,544,000. Finally, LPL Financial LLC grew its position in shares of Nano Nuclear Energy by 30.7% in the 1st quarter. LPL Financial LLC now owns 136,270 shares of the company's stock worth $3,606,000 after buying an additional 31,992 shares during the period.

Nano Nuclear Energy Stock Down 4.1%

NNE traded down $1.44 during midday trading on Friday, hitting $33.99. 3,017,081 shares of the company traded hands, compared to its average volume of 3,760,825. The firm has a market capitalization of $1.41 billion, a PE ratio of -37.35 and a beta of 7.16. The company's 50-day moving average is $34.45 and its 200 day moving average is $30.14. Nano Nuclear Energy Inc. has a 52 week low of $6.30 and a 52 week high of $48.05.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.46). On average, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NNE has been the topic of a number of recent research reports. Northland Securities initiated coverage on shares of Nano Nuclear Energy in a research report on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price on the stock. LADENBURG THALM/SH SH started coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They set a "buy" rating and a $51.00 price objective on the stock. Finally, Northland Capmk raised shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $51.75.

Nano Nuclear Energy 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.