Analysts Set Nano Nuclear Energy Inc. (NASDAQ:NNE) Price Target at $39.00

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $39.00.

NNE has been the topic of a number of recent analyst reports. Wall Street Zen lowered Nano Nuclear Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Friday, July 17th. Roth Capital began coverage on Nano Nuclear Energy in a research note on Wednesday, June 17th. They issued a “buy” rating and a $45.00 price target on the stock. Benchmark restated a “buy” rating on shares of Nano Nuclear Energy in a report on Friday, June 26th. Finally, Truist Financial initiated coverage on shares of Nano Nuclear Energy in a research note on Monday, July 13th. They set a “hold” rating and a $22.00 price objective for the company.

Nano Nuclear Energy Stock Performance

Nano Nuclear Energy stock opened at $17.32 on Monday. The firm has a market cap of $902.03 million, a price-to-earnings ratio of -25.10 and a beta of 5.27. Nano Nuclear Energy has a 1 year low of $15.44 and a 1 year high of $60.87. The firm’s 50 day moving average price is $23.03 and its two-hundred day moving average price is $25.18.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. As a group, equities analysts predict that Nano Nuclear Energy will post -0.93 EPS for the current fiscal year.

Insider Buying and Selling at Nano Nuclear Energy

In other Nano Nuclear Energy news, major shareholder I Financial Ventures Group Llc 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 sale, the insider directly owned 8,224,000 shares of the company’s stock, valued at $219,416,320. The trade was a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Florent Heidet sold 3,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.95, for a total transaction of $74,850.00. Following the sale, the chief technology officer directly owned 6,185 shares in the company, valued at approximately $154,315.75. This trade represents a 32.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,616,981 shares of company stock valued at $43,096,346 over the last three months. 32.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of Nano Nuclear Energy by 185.2% during the first quarter. Royal Bank of Canada now owns 21,143 shares of the company’s stock valued at $560,000 after buying an additional 13,730 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Nano Nuclear Energy in the 1st quarter worth about $1,187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Nano Nuclear Energy by 535.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company’s stock worth $385,000 after acquiring an additional 12,256 shares during the period. NewEdge Advisors LLC boosted its position in Nano Nuclear Energy by 385.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,914 shares of the company’s stock worth $51,000 after acquiring an additional 1,520 shares during the period. Finally, Creative Planning acquired a new stake in Nano Nuclear Energy during the 2nd quarter worth about $316,000.

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.