Nano Nuclear Energy (NASDAQ:NNE) Lowered to "Sell" Rating by LADENBURG THALM/SH SH

Key Points

• Nano Nuclear Energy's rating was downgraded from "buy" to "sell" by LADENBURG THALM/SH SH, with a price target reduced to $9.00, indicating a potential downside of 74.92% from its current price.
• Despite the downgrade, other firms like HC Wainwright and Northland Capital have maintained a positive outlook, with ratings of "buy" and "strong buy," setting price targets of $50.00 and $40.00 respectively.
• Institutional investors are actively managing their stakes, with significant increases in holdings reported by firms like SG Americas Securities and New York State Common Retirement Fund, indicating ongoing interest in the company.

LADENBURG THALM/SH SH cut shares of Nano Nuclear Energy (NASDAQ:NNE - Free Report) from a buy rating to a sell rating in a research report sent to investors on Monday morning, MarketBeat.com reports. LADENBURG THALM/SH SH currently has $9.00 price objective on the stock, down from their previous price objective of $51.00.

Several other research firms have also commented on NNE. Northland Securities assumed coverage on Nano Nuclear Energy in a research report on Monday, July 7th. They set an "outperform" rating and a $40.00 price target on the stock. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.25.

Nano Nuclear Energy Price Performance

Shares of NASDAQ NNE traded up $2.12 during midday trading on Monday, hitting $31.24. 2,036,608 shares of the company's stock were exchanged, compared to its average volume of 3,837,887. Nano Nuclear Energy has a twelve month low of $6.52 and a twelve month high of $48.05. The company has a market cap of $1.30 billion, a PE ratio of -33.52 and a beta of 7.15. The firm's fifty day simple moving average is $35.25 and its 200-day simple moving average is $30.29.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Equities analysts anticipate that Nano Nuclear Energy will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors have recently modified their holdings of NNE. JPMorgan Chase & Co. raised its holdings in Nano Nuclear Energy by 19.0% during 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. Rothschild Investment LLC raised its holdings in Nano Nuclear Energy by 9.3% during the second quarter. Rothschild Investment LLC now owns 6,655 shares of the company's stock worth $230,000 after purchasing an additional 565 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Nano Nuclear Energy by 15.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,123 shares of the company's stock worth $211,000 after acquiring an additional 815 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Nano Nuclear Energy by 27.9% in the second quarter. IFP Advisors Inc now owns 4,128 shares of the company's stock worth $142,000 after buying an additional 900 shares during the period. Finally, North Capital Inc. purchased a new stake in shares of Nano Nuclear Energy in the first quarter worth about $26,000.

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.