Nano Nuclear Energy Inc. (NASDAQ:NNE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Nano Nuclear Energy has a consensus analyst rating of “Moderate Buy” from seven covering firms, with an average 12-month price target of $39.00.
• The stock recently traded at $16.03, well below both the average target and its recent moving averages, while the company reported a smaller-than-expected quarterly loss of ($0.18) EPS.
• There has been notable insider selling, including shares sold by the CFO and chairman, even as several institutional investors such as Vanguard and UBS increased their holdings.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $39.00.

NNE has been the subject of several analyst reports. Roth Capital assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a "buy" rating and a $45.00 price target for the company. Truist Financial began coverage on shares of Nano Nuclear Energy in a research note on Monday, July 13th. They issued a "hold" rating and a $22.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Wall Street Zen lowered Nano Nuclear Energy from a "sell" rating to a "strong sell" rating in a research report on Saturday. Finally, Benchmark reaffirmed a "buy" rating on shares of Nano Nuclear Energy in a report on Friday, June 26th.

Nano Nuclear Energy Price Performance

Shares of NASDAQ NNE opened at $16.03 on Monday. The company has a 50 day simple moving average of $23.66 and a 200 day simple moving average of $25.34. The firm has a market cap of $834.84 million, a PE ratio of -23.23 and a beta of 5.27. Nano Nuclear Energy has a 1 year low of $15.44 and a 1 year high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.08. As a group, research analysts anticipate that Nano Nuclear Energy will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jaisun Garcha sold 37,215 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.48, for a total transaction of $985,453.20. Following the completion of the transaction, the chief financial officer directly owned 345,000 shares in the company, valued at $9,135,600. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jiang Yu sold 700,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the chairman owned 8,224,000 shares of the company's stock, valued at approximately $219,416,320. The trade was a 7.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. Corporate insiders own 32.77% of the company's stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently modified their holdings of NNE. Vanguard Group Inc. raised its position in Nano Nuclear Energy by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company's stock valued at $54,360,000 after buying an additional 486,367 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company's stock valued at $2,854,000 after acquiring an additional 60,336 shares in the last quarter. UBS Group AG boosted its holdings in Nano Nuclear Energy by 135.7% during the 4th quarter. UBS Group AG now owns 1,158,050 shares of the company's stock worth $27,805,000 after acquiring an additional 666,722 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Nano Nuclear Energy by 16.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 346,123 shares of the company's stock worth $8,310,000 after acquiring an additional 47,960 shares during the last quarter. Finally, Private Wealth Partners LLC boosted its holdings in Nano Nuclear Energy by 191.6% during the 1st quarter. Private Wealth Partners LLC now owns 38,200 shares of the company's stock worth $782,000 after acquiring an additional 25,100 shares during the last quarter.

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.

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