Sheaff Brock Investment Advisors LLC Acquires New Stake 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 acquired a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,570 shares of the company's stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. purchased a new position in shares of Nano Nuclear Energy during the 4th quarter worth $271,000. Commonwealth Equity Services LLC grew its position in Nano Nuclear Energy by 52.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,294 shares of the company's stock valued at $530,000 after acquiring an additional 7,328 shares in the last quarter. LPL Financial LLC acquired a new position in Nano Nuclear Energy in the 4th quarter valued at about $2,596,000. Vanguard Group Inc. grew its position in shares of Nano Nuclear Energy by 2,838.5% during the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Nano Nuclear Energy by 19.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company's stock worth $52,000 after buying an additional 331 shares in the last quarter.

Nano Nuclear Energy Stock Down 4.1%

NNE stock traded down $1.44 on Friday, reaching $33.99. 3,017,081 shares of the company's stock were exchanged, compared to its average volume of 3,760,825. The stock has a fifty day moving average of $34.41 and a 200-day moving average of $30.28. Nano Nuclear Energy Inc. has a twelve month low of $6.30 and a twelve month high of $48.05. The firm has a market cap of $1.41 billion, a PE ratio of -37.35 and a beta of 7.16.

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

Analysts Set New Price Targets

NNE has been the subject of several recent analyst reports. LADENBURG THALM/SH SH began coverage on Nano Nuclear Energy in a research note on Thursday, July 10th. They set a "buy" rating and a $51.00 target price for the company. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Northland Securities began coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They set an "outperform" rating and a $40.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Nano Nuclear Energy currently has an average rating of "Buy" and an average price target of $51.75.

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.