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

Key Points

• Moderate Buy: Nano Nuclear Energy has an average rating of "Moderate Buy" from seven analysts, with a consensus 12‑month price target of $47.00.
• Insider selling: CEO James John Walker sold 195,000 shares and CFO Jaisun Garcha sold 75,000 on Jan 28; insiders sold 2,049,664 shares worth $69.35M in the last quarter, leaving insiders with 32.77% ownership.
• Institutional accumulation: Large investors including VanEck, Vanguard and MIRAE Asset materially increased their stakes in the most recent quarter, and firms like Weiss Asset Management and Ghisallo Capital opened new positions.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $47.00.

A number of brokerages have recently issued reports on NNE. Benchmark reissued a "buy" rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Finally, Texas Capital raised Nano Nuclear Energy to a "strong-buy" rating in a research note on Tuesday, January 27th.

Insider Buying and Selling at Nano Nuclear Energy

In other news, CEO James John Walker sold 195,000 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total transaction of $6,637,800.00. Following the completion of the transaction, the chief executive officer directly owned 250,000 shares of the company's stock, valued at approximately $8,510,000. This represents a 43.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jaisun Garcha sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total value of $2,553,000.00. Following the transaction, the chief financial officer directly owned 250,000 shares of the company's stock, valued at approximately $8,510,000. This trade represents a 23.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,049,664 shares of company stock worth $69,352,176. 32.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in Nano Nuclear Energy by 24.7% in the 4th quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company's stock valued at $77,825,000 after purchasing an additional 643,070 shares in the last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 486,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company's stock valued at $66,564,000 after purchasing an additional 1,711,592 shares in the last quarter. Weiss Asset Management LP purchased a new position in Nano Nuclear Energy in the 4th quarter valued at approximately $38,224,000. Finally, Ghisallo Capital Management LLC purchased a new position in Nano Nuclear Energy in the 4th quarter valued at approximately $38,224,000.

Nano Nuclear Energy Trading Down 1.7%

Nano Nuclear Energy stock opened at $20.76 on Friday. Nano Nuclear Energy has a twelve month low of $17.26 and a twelve month high of $60.87. The stock has a 50 day moving average of $23.97 and a two-hundred day moving average of $32.47. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -19.22 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.19. Equities analysts predict that Nano Nuclear Energy will post -0.92 earnings per share for the current year.

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.

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