Nuveen LLC Makes New $2.57 Million Investment in Nano Nuclear Energy Inc. $NNE

Key Points

• Nuveen LLC acquired approximately $2.57 million worth of shares in Nano Nuclear Energy Inc., representing a 0.26% ownership stake by the end of the reporting period.
• Several institutional investors significantly increased their positions in Nano Nuclear Energy during the fourth quarter, with Wells Fargo increasing its stake by 433.3%.
• Nano Nuclear Energy reported an earnings per share of ($0.19) for the last quarter, surpassing analyst expectations of ($0.27).

Nuveen LLC purchased a new position in Nano Nuclear Energy Inc. (NASDAQ:NNE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 97,277 shares of the company's stock, valued at approximately $2,574,000. Nuveen LLC owned approximately 0.26% of Nano Nuclear Energy as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Capital Inc. bought a new stake in shares of Nano Nuclear Energy during the first quarter valued at about $26,000. Marshall Investment Management LLC acquired a new position in Nano Nuclear Energy during the first quarter worth about $27,000. Ameriflex Group Inc. acquired a new position in Nano Nuclear Energy during the fourth quarter worth about $29,000. KBC Group NV acquired a new position in Nano Nuclear Energy during the first quarter worth about $31,000. Finally, JPMorgan Chase & Co. grew its holdings in Nano Nuclear Energy by 19.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company's stock worth $52,000 after acquiring an additional 331 shares during the period.

Nano Nuclear Energy Stock Down 5.7%

Shares of NNE traded down $1.96 during midday trading on Friday, reaching $32.54. 2,036,918 shares of the stock were exchanged, compared to its average volume of 2,865,349. Nano Nuclear Energy Inc. has a 12-month low of $6.52 and a 12-month high of $48.05. The firm has a 50 day simple moving average of $34.90 and a 200-day simple moving average of $30.17. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -34.99 and a beta of 7.15.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Research analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.