Exchange Traded Concepts LLC Acquires New Stake in Nano Nuclear Energy Inc. $NNE

Key Points

• Exchange Traded Concepts LLC acquired a new stake in Nano Nuclear Energy Inc. during the second quarter, purchasing 181,776 shares valued at approximately $6.27 million, representing a 0.44% ownership of the company at that time.
• Vanguard Group Inc. significantly increased its stake in Nano Nuclear Energy by 44.4%, now holding 990,024 shares worth around $26.19 million.
• Analysts have mixed ratings for Nano Nuclear Energy, with one firm downgrading the stock from "buy" to "sell," while another reaffirmed a "buy" rating and set a price target of $50.00.

Exchange Traded Concepts LLC bought a new position in Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 181,776 shares of the company's stock, valued at approximately $6,269,000. Exchange Traded Concepts LLC owned 0.44% of Nano Nuclear Energy as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. North Capital Inc. purchased a new position in shares of Nano Nuclear Energy during the first quarter valued at $26,000. Marshall Investment Management LLC purchased a new position in shares of Nano Nuclear Energy during the first quarter valued at $27,000. Ameriflex Group Inc. purchased a new position in shares of Nano Nuclear Energy during the fourth quarter valued at $29,000. KBC Group NV purchased a new position in shares of Nano Nuclear Energy during the first quarter valued at $31,000. Finally, Stone House Investment Management LLC purchased a new position in shares of Nano Nuclear Energy during the first quarter valued at $40,000.

Nano Nuclear Energy Stock Performance

Shares of NASDAQ:NNE traded down $0.67 during midday trading on Tuesday, reaching $44.70. 1,206,981 shares of the company's stock traded hands, compared to its average volume of 3,749,063. Nano Nuclear Energy Inc. has a 1 year low of $12.36 and a 1 year high of $48.05. The company has a market cap of $1.86 billion, a P/E ratio of -48.70 and a beta of 7.06. The company has a fifty day simple moving average of $35.02 and a two-hundred day simple moving average of $30.82.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. As a group, research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. BTIG Research started coverage on Nano Nuclear Energy in a research note on Thursday, August 28th. They issued a "neutral" rating on the stock. HC Wainwright reiterated a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Friday, August 15th. LADENBURG THALM/SH SH started coverage on Nano Nuclear Energy in a research note on Thursday, July 10th. They issued a "buy" rating and a $51.00 target price on the stock. Finally, Northland Securities started coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price 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.