Nano Nuclear Energy Inc. (NASDAQ:NNE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $47.00.

A number of research firms recently issued reports on NNE. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. BTIG Research assumed coverage on shares of Nano Nuclear Energy in a research note on Thursday, August 28th. They set a “neutral” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Friday, August 15th.

Nano Nuclear Energy Price Performance

Shares of NASDAQ:NNE opened at $38.86 on Friday. The business has a 50-day moving average of $40.18 and a two-hundred day moving average of $36.78. The firm has a market capitalization of $1.95 billion, a PE ratio of -41.78 and a beta of 7.17. Nano Nuclear Energy has a 12 month low of $17.26 and a 12 month high of $60.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NNE. Van ECK Associates Corp boosted its position in shares of Nano Nuclear Energy by 65.7% in the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after buying an additional 1,030,262 shares during the period. Vanguard Group Inc. lifted its position in Nano Nuclear Energy by 40.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock worth $68,547,000 after acquiring an additional 516,129 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nano Nuclear Energy by 11,676.8% in 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. Hood River Capital Management LLC acquired a new stake in Nano Nuclear Energy in the second quarter valued at approximately $31,935,000. Finally, Geode Capital Management LLC grew its position in Nano Nuclear Energy by 6.4% in the second quarter. Geode Capital Management LLC now owns 349,104 shares of the company’s stock valued at $12,039,000 after acquiring an additional 20,899 shares in 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.