Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives $47.00 Average PT from Analysts

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $47.00.

A number of research firms recently issued reports on NNE. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. BTIG Research assumed coverage on shares of Nano Nuclear Energy in a research report on Thursday, August 28th. They set a “neutral” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Friday, August 15th.

Institutional Trading of Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in Nano Nuclear Energy by 102.1% during the third quarter. IFP Advisors Inc now owns 8,342 shares of the company’s stock worth $322,000 after purchasing an additional 4,214 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at approximately $48,000. NewEdge Advisors LLC grew its stake in shares of Nano Nuclear Energy by 6.5% in the 3rd quarter. NewEdge Advisors LLC now owns 63,377 shares of the company’s stock valued at $2,444,000 after buying an additional 3,882 shares during the period. Scientech Research LLC acquired a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $1,113,000. Finally, Prosperity Wealth Management Inc. purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at approximately $332,000.

Nano Nuclear Energy Price Performance

Shares of NNE opened at $36.19 on Friday. The company’s fifty day moving average price is $40.29 and its 200-day moving average price is $36.77. Nano Nuclear Energy has a 1-year low of $17.26 and a 1-year high of $60.87. The firm has a market capitalization of $1.82 billion, a PE ratio of -38.91 and a beta of 7.17.

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.