Nano Nuclear Energy Inc. (NASDAQ:NNE) Stock Has Consensus Target Price of $37.71 According to Brokerages

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $37.71.

A number of analysts recently commented on the stock. Susquehanna set a $39.00 price target on shares of Nano Nuclear Energy in a research note on Thursday, October 1st. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Thursday, October 15th. Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th. Finally, Truist Financial decreased their target price on Nano Nuclear Energy from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, October 22nd.

Insider Buying and Selling at Nano Nuclear Energy

In related news, CEO James Walker sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total transaction of $444,250.00. Following the completion of the sale, the chief executive officer owned 635,000 shares in the company, valued at $11,283,950. This represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NNE. BlackRock Inc. acquired a new position in shares of Nano Nuclear Energy in the second quarter valued at about $73,826,000. Bank of New York Mellon Corp bought a new stake in shares of Nano Nuclear Energy during the second quarter valued at approximately $2,814,000. Van ECK Associates Corp lifted its position in shares of Nano Nuclear Energy by 26.9% during the second quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock valued at $80,752,000 after purchasing an additional 810,022 shares in the last quarter. Lido Advisors LLC increased its position in shares of Nano Nuclear Energy by 1,769.6% during the 1st quarter. Lido Advisors LLC now owns 171,932 shares of the company’s stock valued at $3,521,000 after purchasing an additional 162,736 shares during the last quarter. Finally, Private Wealth Partners LLC grew its stake in shares of Nano Nuclear Energy by 191.6% during the 1st quarter. Private Wealth Partners LLC now owns 38,200 shares of the company’s stock worth $782,000 after acquiring an additional 25,100 shares during the period.

Nano Nuclear Energy Price Performance

Shares of NNE opened at $11.65 on Wednesday. The stock has a market cap of $625.58 million, a price-to-earnings ratio of -16.88 and a beta of 5.49. Nano Nuclear Energy has a one year low of $11.13 and a one year high of $49.50. The company has a 50-day moving average of $15.76 and a two-hundred day moving average of $21.81.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. Analysts anticipate that Nano Nuclear Energy will post -0.80 earnings per share for the current year.

About Nano Nuclear Energy

Nano Nuclear Energy Inc is a development-stage nuclear technology company focused on providing portable, scalable, and carbon-free energy solutions. The company is developing advanced microreactor technologies intended to serve applications that may be difficult or costly to support with conventional power infrastructure, including remote communities, industrial operations, data centers, and defense-related facilities.

Its reactor portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor.