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

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

NNE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Texas Capital raised shares of Nano Nuclear Energy to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, February 18th.

Nano Nuclear Energy Stock Up 1.9%

NNE stock opened at $27.72 on Friday. The firm has a market capitalization of $1.44 billion, a PE ratio of -25.67 and a beta of 7.48. Nano Nuclear Energy has a twelve month low of $17.26 and a twelve month high of $60.87. The stock has a 50-day simple moving average of $29.66 and a two-hundred day simple moving average of $34.96.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.19. On average, equities research analysts anticipate that Nano Nuclear Energy will post -0.92 EPS for the current fiscal year.

Insider Transactions at Nano Nuclear Energy

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc sold 766,661 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $34.14, for a total value of $26,173,806.54. Following the completion of the transaction, the insider owned 8,724,000 shares of the company’s stock, valued at $297,837,360. The trade was a 8.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jiang Yu sold 766,661 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $34.14, for a total transaction of $26,173,806.54. Following the completion of the transaction, the chairman directly owned 8,724,000 shares in the company, valued at $297,837,360. The trade was a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,982,000 shares of company stock valued at $125,625,797. 32.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Archer Investment Corp purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $39,000. Tripletail Wealth Management LLC bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at about $43,000. US Bancorp DE raised its holdings in shares of Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after buying an additional 400 shares in the last quarter. Harbour Investments Inc. lifted 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 worth $28,000 after buying an additional 863 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Nano Nuclear Energy in the third quarter worth approximately $48,000.

Nano Nuclear Energy Company Profile

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.