Analysts Set Nano Nuclear Energy Inc. (NASDAQ:NNE) PT at $47.00

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $47.00.

Several brokerages have commented on NNE. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Thursday, January 22nd. Texas Capital upgraded Nano Nuclear Energy to a “strong-buy” rating in a research note on Tuesday, January 27th. Finally, Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a research note on Wednesday, February 18th.

Nano Nuclear Energy Stock Up 5.3%

Shares of NASDAQ NNE opened at $21.87 on Friday. Nano Nuclear Energy has a 52 week low of $17.26 and a 52 week high of $60.87. The business has a 50-day simple moving average of $23.86 and a two-hundred day simple moving average of $32.17. The company has a market cap of $1.14 billion, a P/E ratio of -20.25 and a beta of 7.25.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Tuesday, February 17th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.19. Equities research analysts anticipate that Nano Nuclear Energy will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other Nano Nuclear Energy news, CFO Jaisun Garcha sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $34.04, for a total value of $2,553,000.00. Following the completion of the transaction, the chief financial officer owned 250,000 shares in the company, valued at $8,510,000. This trade represents a 23.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jiang Yu sold 766,661 shares of Nano Nuclear Energy stock in a transaction dated 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 sale, the chairman owned 8,724,000 shares of the company’s stock, valued at approximately $297,837,360. This trade represents a 8.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,049,664 shares of company stock worth $69,352,176 over the last quarter. Insiders own 32.77% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

A number of large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. boosted its position in shares of Nano Nuclear Energy by 9.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,369 shares of the company’s stock valued at $105,000 after acquiring an additional 381 shares during the last quarter. US Bancorp DE boosted its position 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 acquiring an additional 400 shares during the last quarter. CWM LLC boosted its position in shares of Nano Nuclear Energy by 17.7% during the 3rd quarter. CWM LLC now owns 3,837 shares of the company’s stock valued at $148,000 after acquiring an additional 576 shares during the last quarter. Swiss National Bank boosted its position in shares of Nano Nuclear Energy by 1.2% during the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after acquiring an additional 700 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Nano Nuclear Energy by 8.6% during the 3rd quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock valued at $354,000 after acquiring an additional 727 shares during the last quarter.

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.