Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives $51.75 Consensus PT from Analysts

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) has received a consensus rating of "Buy" from the five analysts that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $51.75.

NNE has been the subject of several recent research reports. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. LADENBURG THALM/SH SH initiated coverage on Nano Nuclear Energy in a report on Thursday, July 10th. They set a "buy" rating and a $51.00 price target on the stock. Finally, Northland Securities started coverage on shares of Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price objective for the company.

Nano Nuclear Energy Stock Up 4.7%

Shares of NASDAQ NNE traded up $1.59 during midday trading on Monday, hitting $35.58. The stock had a trading volume of 2,355,462 shares, compared to its average volume of 3,912,053. The stock has a 50 day simple moving average of $34.41 and a 200-day simple moving average of $30.32. The company has a market capitalization of $1.48 billion, a PE ratio of -39.10 and a beta of 7.15. Nano Nuclear Energy has a 1 year low of $6.30 and a 1 year high of $48.05.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.46). As a group, analysts expect that Nano Nuclear Energy will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 position in Nano Nuclear Energy during the 4th quarter worth approximately $19,642,000. Vanguard Group Inc. increased its position in shares of Nano Nuclear Energy by 2,838.5% in the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company's stock valued at $17,068,000 after purchasing an additional 662,287 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $4,544,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth $6,269,000.

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.