Goldman Sachs Group Inc. Trims Position in Nano Nuclear Energy Inc. $NNE

Key Points

• Goldman Sachs Group Inc. reduced its stake in Nano Nuclear Energy Inc. by 67.3%, owning 54,233 shares after selling 111,744 during the first quarter.
• Several hedge funds, including North Capital Inc. and Ameriflex Group Inc., have recently acquired new positions in Nano Nuclear Energy, indicating a growing interest in the stock.
• Analyst ratings for Nano Nuclear Energy vary, with one analyst downgrading the stock from "buy" to "sell," while others maintain "buy" or "strong buy" ratings, reflecting differing outlooks on its future performance.

Goldman Sachs Group Inc. lessened its holdings in Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) by 67.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 54,233 shares of the company's stock after selling 111,744 shares during the period. Goldman Sachs Group Inc. owned 0.13% of Nano Nuclear Energy worth $1,435,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. North Capital Inc. purchased a new position in Nano Nuclear Energy during the first quarter valued at $26,000. Marshall Investment Management LLC bought a new position in shares of Nano Nuclear Energy during the 1st quarter valued at about $27,000. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter worth about $29,000. KBC Group NV purchased a new stake in shares of Nano Nuclear Energy in the first quarter worth about $31,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Nano Nuclear Energy in the first quarter worth about $40,000.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. LADENBURG THALM/SH SH cut shares of Nano Nuclear Energy from a "buy" rating to a "sell" rating and decreased their target price for the company from $51.00 to $9.00 in a research report on Monday, August 18th. Northland Securities began coverage on Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price for the company. BTIG Research began coverage on Nano Nuclear Energy in a report on Thursday, August 28th. They issued a "neutral" rating for the company. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. Finally, HC Wainwright restated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.25.

Nano Nuclear Energy Stock Performance

Shares of NNE stock opened at $46.31 on Friday. The stock's 50-day simple moving average is $34.83 and its 200-day simple moving average is $30.66. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -49.80 and a beta of 7.03. Nano Nuclear Energy Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $48.05.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. As a group, equities analysts forecast 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.

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