Nano Nuclear Energy Inc. (NASDAQ:NNE) Stock Has Average Target Price of $37.71 According to Brokerages

Nano Nuclear Energy Inc. (NASDAQ:NNE) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $37.71.

Several equities analysts have recently weighed in on the company. Susquehanna set a $39.00 target price on Nano Nuclear Energy in a research report on Thursday, October 1st. Alliance Global Partners started coverage on Nano Nuclear Energy in a research report on Monday, July 27th. They issued a “buy” rating and a $46.00 price target for the company. Truist Financial lowered their price target on Nano Nuclear Energy from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Thursday, October 22nd. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, New Street Research set a $45.00 price objective on shares of Nano Nuclear Energy in a research report on Thursday, August 13th.

Nano Nuclear Energy Stock Performance

Shares of NASDAQ NNE opened at $12.34 on Wednesday. The firm’s 50-day moving average price is $16.14 and its 200-day moving average price is $22.12. Nano Nuclear Energy has a 12-month low of $11.74 and a 12-month high of $49.50.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. Analysts anticipate that Nano Nuclear Energy will post -0.80 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO James Walker sold 25,000 shares of Nano Nuclear Energy stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total transaction of $444,250.00. Following the completion of the transaction, the chief executive officer directly owned 635,000 shares of the company’s stock, valued at approximately $11,283,950. The trade was a 3.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 18.61% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNE. BlackRock Inc. purchased a new stake in Nano Nuclear Energy in the 2nd quarter worth about $73,826,000. Van ECK Associates Corp lifted its stake in Nano Nuclear Energy by 26.9% in the second quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock worth $80,752,000 after purchasing an additional 810,022 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Nano Nuclear Energy by 1,769.6% during the first quarter. Lido Advisors LLC now owns 171,932 shares of the company’s stock valued at $3,521,000 after buying an additional 162,736 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Nano Nuclear Energy during the second quarter valued at approximately $2,814,000. Finally, Bank of America Corp DE purchased a new position in shares of Nano Nuclear Energy during the second quarter valued at approximately $1,083,000.

Nano Nuclear Energy Company Profile

Nano Nuclear Energy Inc is a development-stage nuclear technology company focused on providing portable, scalable, and carbon-free energy solutions. The company is developing advanced microreactor technologies intended to serve applications that may be difficult or costly to support with conventional power infrastructure, including remote communities, industrial operations, data centers, and defense-related facilities.

Its reactor portfolio includes the ZEUS solid-core battery reactor and the ODIN low-pressure coolant reactor.