New York State Common Retirement Fund Buys 6,400 Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE)

Key Points

• The New York State Common Retirement Fund increased its position in Nano Nuclear Energy Inc. by 533.3%, now owning 7,600 shares valued at approximately $201,000.
• Nano Nuclear Energy recently reported a loss of $0.57 EPS, significantly missing the expected consensus estimate of ($0.11).
• The company has received multiple buy ratings from brokers, with a consensus price target of $51.75 for the stock, indicating strong analyst confidence.

New York State Common Retirement Fund lifted its stake in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) by 533.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,600 shares of the company's stock after acquiring an additional 6,400 shares during the quarter. New York State Common Retirement Fund's holdings in Nano Nuclear Energy were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Anson Funds Management LP acquired a new stake in Nano Nuclear Energy in the 4th quarter valued at about $20,746,000. Hudson Bay Capital Management LP acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at approximately $19,642,000. Vanguard Group Inc. lifted its stake in Nano Nuclear Energy by 2,838.5% in the fourth quarter. Vanguard Group Inc. now owns 685,619 shares of the company's stock worth $17,068,000 after acquiring an additional 662,287 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Nano Nuclear Energy in the fourth quarter worth approximately $4,544,000. Finally, LPL Financial LLC purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $2,596,000.

Nano Nuclear Energy Price Performance

Shares of Nano Nuclear Energy stock traded up $0.62 on Wednesday, hitting $36.07. The company had a trading volume of 4,787,637 shares, compared to its average volume of 3,367,973. Nano Nuclear Energy Inc. has a 52 week low of $6.30 and a 52 week high of $48.05. The business has a 50-day simple moving average of $34.29 and a 200-day simple moving average of $30.03. The company has a market cap of $1.50 billion, a PE ratio of -39.64 and a beta of 7.29.

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 (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.46). On average, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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