Nano Nuclear Energy (NASDAQ:NNE) Rating Lowered to Sell at 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.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) was downgraded by stock analysts at LADENBURG THALM/SH SH from a "buy" rating to a "sell" rating in a note issued to investors on Monday, Marketbeat reports. They presently have a $9.00 price target on the stock, down from their previous price target of $51.00. LADENBURG THALM/SH SH's price target suggests a potential downside of 74.92% from the company's current price.

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

Nano Nuclear Energy Price Performance

Shares of NNE opened at $35.89 on Monday. The firm has a 50-day simple moving average of $35.42 and a two-hundred day simple moving average of $30.42. Nano Nuclear Energy has a 1-year low of $6.52 and a 1-year high of $48.05. The stock has a market cap of $1.49 billion, a PE ratio of -38.59 and a beta of 7.15.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in shares of Nano Nuclear Energy by 113.8% in the 1st quarter. SG Americas Securities LLC now owns 29,586 shares of the company's stock valued at $783,000 after buying an additional 15,747 shares during the period. Millennium Management LLC purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter worth $1,253,000. Cetera Investment Advisers acquired a new position in shares of Nano Nuclear Energy during the 4th quarter worth $424,000. New York State Common Retirement Fund increased its holdings in shares of Nano Nuclear Energy by 533.3% in the 1st quarter. New York State Common Retirement Fund now owns 7,600 shares of the company's stock valued at $201,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $4,544,000.

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.

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