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

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

Several analysts have recently weighed in on NNE shares. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, February 18th. Texas Capital raised Nano Nuclear Energy to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Thursday, January 22nd.

Nano Nuclear Energy Stock Performance

Nano Nuclear Energy stock opened at $25.85 on Friday. Nano Nuclear Energy has a fifty-two week low of $17.26 and a fifty-two week high of $60.87. The company has a market capitalization of $1.35 billion, a P/E ratio of -23.94 and a beta of 7.25. The stock has a 50-day simple moving average of $23.56 and a 200-day simple moving average of $31.86.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.19. As a group, analysts forecast that Nano Nuclear Energy will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Seth Jason Berl sold 3,664 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $27.69, for a total value of $101,456.16. Following the completion of the sale, the director directly owned 3,836 shares of the company’s stock, valued at approximately $106,218.84. The trade was a 48.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jiang Yu sold 121,339 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $31.78, for a total value of $3,856,153.42. Following the completion of the sale, the chairman directly owned 8,724,000 shares of the company’s stock, valued at $277,248,720. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,049,664 shares of company stock worth $69,352,176. Corporate insiders own 32.77% of the company’s stock.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently added to or reduced their stakes in NNE. Harbour Investments Inc. increased its position in Nano Nuclear Energy by 275.7% in the 4th quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 863 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Nano Nuclear Energy by 165.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the company’s stock valued at $32,000 after acquiring an additional 835 shares during the period. Archer Investment Corp acquired a new position in Nano Nuclear Energy in the 3rd quarter valued at about $39,000. Tripletail Wealth Management LLC acquired a new position in Nano Nuclear Energy in the 3rd quarter valued at about $43,000. Finally, US Bancorp DE increased its position in Nano Nuclear Energy by 51.9% in the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after acquiring an additional 400 shares during the period.

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.