Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives Average Recommendation of "Buy" from Analysts

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

Several analysts have weighed in on the company. HC Wainwright reissued a "buy" rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Monday, March 31st. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. LADENBURG THALM/SH SH assumed coverage on Nano Nuclear Energy in a report on Thursday. They set a "buy" rating and a $51.00 price objective for the company. Finally, Northland Securities assumed 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.

Nano Nuclear Energy Trading Down 2.3%

Shares of Nano Nuclear Energy stock traded down $0.80 during trading on Thursday, reaching $34.22. The company's stock had a trading volume of 2,144,628 shares, compared to its average volume of 3,806,710. The stock has a 50-day moving average price of $31.32 and a two-hundred day moving average price of $29.16. Nano Nuclear Energy has a one year low of $6.30 and a one year high of $48.05. The stock has a market capitalization of $1.42 billion, a P/E ratio of -37.60 and a beta of 7.29.

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

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently modified their holdings of NNE. North Capital Inc. acquired a new position in shares of Nano Nuclear Energy during the 1st quarter worth about $26,000. Marshall Investment Management LLC acquired a new position in shares of Nano Nuclear Energy during the 1st quarter worth about $27,000. Ameriflex Group Inc. acquired a new position in shares of Nano Nuclear Energy during the 4th quarter worth about $29,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Nano Nuclear Energy during the 4th quarter worth about $30,000. Finally, KBC Group NV acquired a new position in shares of Nano Nuclear Energy during the 1st quarter worth about $31,000.

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.