Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives $51.75 Consensus Target Price from Brokerages

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) have earned a consensus recommendation of "Buy" from the five research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $51.75.

Several analysts have recently issued reports on the company. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. LADENBURG THALM/SH SH began 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 assumed coverage on Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price target for the company.

Nano Nuclear Energy Stock Down 4.4%

NNE traded down $1.69 during trading on Monday, reaching $36.60. The company's stock had a trading volume of 1,807,361 shares, compared to its average volume of 3,901,411. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -40.24 and a beta of 7.15. The firm has a fifty day simple moving average of $34.59 and a two-hundred day simple moving average of $30.51. 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 issued its quarterly earnings data 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, equities analysts forecast that Nano Nuclear Energy will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Nano Nuclear Energy by 44.4% during the 1st quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock worth $26,196,000 after purchasing an additional 304,405 shares in the last quarter. Anson Funds Management LP acquired a new stake in Nano Nuclear Energy in the 4th quarter valued at $20,746,000. Hudson Bay Capital Management LP purchased a new position in Nano Nuclear Energy in the fourth quarter valued at about $19,642,000. Nuveen Asset Management LLC acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $4,544,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Nano Nuclear Energy in the second quarter worth about $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.