Nano Nuclear Energy (NASDAQ:NNE) Receives "Buy" Rating from HC Wainwright

Key Points

• HC Wainwright has reiterated a buy rating for Nano Nuclear Energy (NASDAQ:NNE) with a target price of $50.00, suggesting a potential upside of 42.05% from its current stock price.
• The company reported earnings per share of ($0.19), exceeding analysts' expectations, and is projected to post a full-year EPS of (-0.92).
• Nano Nuclear Energy has received multiple buy ratings from various analysts, resulting in a consensus target price of $51.75.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $50.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 68.65% from the stock's current price.

NNE has been the topic of a number of other research reports. LADENBURG THALM/SH SH began coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They set a "buy" rating and a $51.00 target price on the stock. Northland Securities initiated coverage on shares of Nano Nuclear Energy in a research report on Monday, July 7th. They set an "outperform" rating and a $40.00 target price on the stock. Finally, Northland Capmk raised shares of Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.25.

Nano Nuclear Energy Stock Performance

NASDAQ NNE traded down $2.4130 during mid-day trading on Friday, reaching $29.6470. 2,846,686 shares of the stock were exchanged, compared to its average volume of 3,856,189. Nano Nuclear Energy has a 1-year low of $6.52 and a 1-year high of $48.05. The business's fifty day simple moving average is $35.44 and its 200 day simple moving average is $30.37. The stock has a market capitalization of $1.23 billion, a PE ratio of -31.65 and a beta of 7.15.

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, topping analysts' consensus estimates of ($0.27) by $0.08. On average, analysts anticipate that Nano Nuclear Energy will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Nano Nuclear Energy by 44.4% in the 1st quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock valued at $26,196,000 after acquiring an additional 304,405 shares during the period. Hood River Capital Management LLC purchased a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at $31,935,000. Anson Funds Management LP purchased a new position in shares of Nano Nuclear Energy in the 4th quarter valued at $20,746,000. Hudson Bay Capital Management LP purchased a new position in shares of Nano Nuclear Energy in the 4th quarter valued at $19,642,000. Finally, Geode Capital Management LLC raised its stake in shares of Nano Nuclear Energy by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 349,104 shares of the company's stock valued at $12,039,000 after acquiring an additional 20,899 shares during the period.

About Nano Nuclear Energy

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.