Nano Nuclear Energy Inc. (NASDAQ:NNE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $47.00.

Several analysts have recently weighed in on NNE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Wall Street Zen upgraded Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday.

Nano Nuclear Energy Price Performance

Nano Nuclear Energy stock opened at $28.88 on Friday. The firm has a market capitalization of $1.50 billion, a P/E ratio of -41.86 and a beta of 5.15. The stock has a fifty day moving average price of $24.08 and a two-hundred day moving average price of $27.90. Nano Nuclear Energy has a 52-week low of $18.93 and a 52-week high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.08. On average, equities research analysts predict that Nano Nuclear Energy will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Nano Nuclear Energy

In other news, Director Seth Jason Berl sold 3,664 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $106,218.84. This trade represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Nano Nuclear Energy by 27.4% in the fourth 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. JPMorgan Chase & Co. increased its holdings in shares of Nano Nuclear Energy by 441.3% in the third quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock valued at $2,854,000 after purchasing an additional 60,336 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Nano Nuclear Energy by 65.7% in the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after purchasing an additional 1,030,262 shares in the last quarter. UBS Group AG increased its holdings in shares of Nano Nuclear Energy by 135.7% in the fourth quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock valued at $27,805,000 after purchasing an additional 666,722 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $1,347,000.

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.