Brokerages Set Nano Nuclear Energy Inc. (NASDAQ:NNE) Price Target at $52.00

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been assigned an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $51.75.

Several research firms have issued reports on NNE. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Monday, March 31st. Northland Capmk upgraded Nano Nuclear Energy to a “strong-buy” rating in a research note on Monday, July 7th. LADENBURG THALM/SH SH assumed coverage on Nano Nuclear Energy in a research note on Thursday. They issued a “buy” rating and a $51.00 target price for the company. Finally, Northland Securities assumed coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They issued an “outperform” rating and a $40.00 target price for the company.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE opened at $34.22 on Thursday. The business’s 50-day moving average is $31.32 and its 200-day moving average is $29.16. Nano Nuclear Energy has a 1 year low of $6.30 and a 1 year high of $48.05. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -37.60 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.46). Analysts anticipate that Nano Nuclear Energy will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds have recently added to or reduced their stakes in NNE. North Capital Inc. bought a new position in Nano Nuclear Energy in the first quarter valued at about $26,000. Marshall Investment Management LLC bought a new position in Nano Nuclear Energy in the first quarter valued at about $27,000. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy in the fourth quarter valued at about $29,000. Aster Capital Management DIFC Ltd bought a new position in Nano Nuclear Energy in the fourth quarter valued at about $30,000. Finally, KBC Group NV bought a new position in Nano Nuclear Energy in the first quarter valued at about $31,000.

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.