Brokerages Set Nano Nuclear Energy Inc. (NASDAQ:NNE) PT at $46.50

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $46.50.

Several equities analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday, June 26th. Roth Mkm assumed coverage on shares of Nano Nuclear Energy in a report on Wednesday, June 17th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 24th.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE opened at $20.75 on Thursday. The stock has a market capitalization of $1.08 billion, a P/E ratio of -30.07 and a beta of 5.05. The business has a 50-day moving average of $25.25 and a two-hundred day moving average of $26.39. Nano Nuclear Energy has a fifty-two week low of $18.93 and a fifty-two week high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. As a group, research analysts expect that Nano Nuclear Energy will post -0.95 EPS for the current fiscal year.

Insider Activity at Nano Nuclear Energy

In related news, Chairman Jiang Yu sold 700,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the transaction, the chairman owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Seth Jason Berl sold 3,750 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $24.92, for a total transaction of $93,450.00. Following the transaction, the director directly owned 7,586 shares of the company’s stock, valued at $189,043.12. This represents a 33.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,616,981 shares of company stock valued at $43,096,346. 32.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Nano Nuclear Energy by 24.7% during the fourth quarter. Van ECK Associates Corp now owns 3,241,350 shares of the company’s stock worth $77,825,000 after buying an additional 643,070 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nano Nuclear Energy by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock worth $54,360,000 after acquiring an additional 486,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Nano Nuclear Energy by 11,676.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock worth $66,564,000 after acquiring an additional 1,711,592 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at about $38,224,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at about $38,224,000.

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.