Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives $41.25 Average Price Target from Brokerages

Key Points

• Nano Nuclear Energy Inc. has received a consensus rating of "Moderate Buy" from six brokerages, with one analyst rating it a sell and three giving it buy recommendations.
• The average twelve-month price target set by analysts for Nano Nuclear Energy is $41.25, with varying predictions ranging from $9.00 to $51.00.
• In Q2, large investors significantly increased their holdings in the company, with Tower Research Capital raising its stake by 404.6%.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) has earned an average rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $41.25.

A number of analysts have issued reports on NNE shares. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Friday, August 15th. BTIG Research began coverage on shares of Nano Nuclear Energy in a research note on Thursday. They issued a "neutral" rating on the stock. LADENBURG THALM/SH SH downgraded Nano Nuclear Energy from a "buy" rating to a "sell" rating and dropped their target price for the stock from $51.00 to $9.00 in a report on Monday, August 18th. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Northland Securities initiated coverage on Nano Nuclear Energy in a report on Monday, July 7th. They set an "outperform" rating and a $40.00 price objective for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Total Investment Management Inc. bought a new position in Nano Nuclear Energy in the second quarter worth about $60,000. Newbridge Financial Services Group Inc. lifted its holdings in Nano Nuclear Energy by 24.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 10,682 shares of the company's stock valued at $368,000 after buying an additional 2,100 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Nano Nuclear Energy during the second quarter worth $895,000. FORA Capital LLC acquired a new position in Nano Nuclear Energy during the second quarter worth $311,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth about $523,000.

Nano Nuclear Energy Price Performance

NNE stock traded down $1.96 on Friday, reaching $32.54. 2,036,918 shares of the company traded hands, compared to its average volume of 2,865,349. The firm has a fifty day simple moving average of $34.90 and a 200-day simple moving average of $30.17. Nano Nuclear Energy has a one year low of $6.52 and a one year high of $48.05. The company has a market cap of $1.35 billion, a P/E ratio of -34.99 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, beating the consensus estimate of ($0.27) by $0.08. On average, sell-side analysts forecast that Nano Nuclear Energy will post -0.92 EPS for the current year.

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.