Bank of New York Mellon Corp Increases Position in Nano Nuclear Energy Inc. (NASDAQ:NNE)

Key Points

• The Bank of New York Mellon Corp has increased its holdings in Nano Nuclear Energy Inc. by 206.8%, now owning approximately 0.16% of the company valued at $1.55 million.
• Analysts have a consensus rating of "Buy" on Nano Nuclear Energy, with a target price averaging $51.75, and several institutions have recently boosted their positions in the company.
• Nano Nuclear Energy reported an earnings loss of ($0.57) EPS for the last quarter, significantly missing the consensus estimate of ($0.11).

Bank of New York Mellon Corp lifted its position in Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) by 206.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,530 shares of the company's stock after buying an additional 39,453 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.16% of Nano Nuclear Energy worth $1,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. North Capital Inc. acquired a new position in shares of Nano Nuclear Energy during the 1st quarter worth about $26,000. KBC Group NV acquired a new stake in shares of Nano Nuclear Energy in the 1st quarter valued at about $31,000. Legacy Advisors LLC boosted its position in shares of Nano Nuclear Energy by 7.0% in the 1st quarter. Legacy Advisors LLC now owns 53,508 shares of the company's stock valued at $1,416,000 after purchasing an additional 3,508 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Nano Nuclear Energy by 43.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 60,103 shares of the company's stock valued at $1,590,000 after purchasing an additional 18,188 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new stake in Nano Nuclear Energy during the 1st quarter worth approximately $233,000.

Analyst Ratings Changes

NNE has been the subject of a number of analyst reports. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Northland Securities initiated coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They set an "outperform" rating and a $40.00 target price for the company. Finally, LADENBURG THALM/SH SH initiated 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. Four 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.com, the stock has a consensus rating of "Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Price Performance

NASDAQ:NNE traded down $1.44 during trading hours on Friday, reaching $33.99. 3,017,081 shares of the company traded hands, compared to its average volume of 3,760,825. The firm's 50-day moving average is $34.41 and its 200-day moving average is $30.28. The stock has a market cap of $1.41 billion, a P/E ratio of -37.35 and a beta of 7.16. Nano Nuclear Energy Inc. has a 1-year low of $6.30 and a 1-year high of $48.05.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data 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). As a group, research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

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.