Cornerstone Wealth Management LLC Makes New Investment in Nano Nuclear Energy Inc. (NASDAQ:NNE)

Cornerstone Wealth Management LLC acquired a new position in Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,805 shares of the company's stock, valued at approximately $233,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter worth approximately $774,000. LPL Financial LLC bought a new position in Nano Nuclear Energy during the 4th quarter worth $2,596,000. Franklin Resources Inc. acquired a new stake in Nano Nuclear Energy in the fourth quarter worth $1,036,000. SG Americas Securities LLC increased its position in Nano Nuclear Energy by 113.8% in the first quarter. SG Americas Securities LLC now owns 29,586 shares of the company's stock worth $783,000 after buying an additional 15,747 shares during the period. Finally, Millennium Management LLC bought a new stake in Nano Nuclear Energy in the fourth quarter valued at $1,253,000.

Nano Nuclear Energy Price Performance

Shares of NASDAQ NNE traded up $3.91 during midday trading on Tuesday, reaching $39.50. 5,088,866 shares of the company traded hands, compared to its average volume of 3,942,825. The company has a market cap of $1.64 billion and a price-to-earnings ratio of -43.41. The stock has a 50-day moving average price of $27.72 and a 200 day moving average price of $28.29. 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 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, analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

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.