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

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

Several equities research analysts recently commented on the company. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Monday, March 31st. Northland Securities started coverage on Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price target on the stock. Finally, LADENBURG THALM/SH SH started coverage on Nano Nuclear Energy in a report on Thursday. They issued a "buy" rating and a $51.00 price target on the stock.

Nano Nuclear Energy Price Performance

Shares of Nano Nuclear Energy stock traded down $0.80 on Thursday, hitting $34.22. 2,144,628 shares of the company's stock traded hands, compared to its average volume of 3,810,092. Nano Nuclear Energy has a one year low of $6.30 and a one year high of $48.05. The company has a fifty day moving average of $31.32 and a two-hundred day moving average of $29.17. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -37.60 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.46). Equities research analysts anticipate that Nano Nuclear Energy will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Nano Nuclear Energy by 19.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company's stock worth $52,000 after purchasing an additional 331 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Nano Nuclear Energy in the first quarter worth approximately $26,000. Marshall Investment Management LLC purchased a new stake in shares of Nano Nuclear Energy in the first quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Nano Nuclear Energy by 10.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,019 shares of the company's stock worth $318,000 after purchasing an additional 1,135 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter worth approximately $29,000.

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.