Nano Nuclear Energy (NASDAQ:NNE) Stock Gets Price Target Cut from Truist Financial

Nano Nuclear Energy (NASDAQ:NNE) had its price objective decreased by Truist Financial from $22.00 to $19.00 in a research report report published on Thursday, Marketbeat Ratings reports. Truist Financial currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Thursday, August 13th. Susquehanna set a $39.00 price target on Nano Nuclear Energy in a report on Thursday, October 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Thursday, October 15th. New Street Research set a $45.00 price objective on Nano Nuclear Energy in a research note on Thursday, August 13th. Finally, Alliance Global Partners assumed coverage on Nano Nuclear Energy in a research note on Monday, July 27th. They issued a “buy” rating and a $46.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and a consensus target price of $37.71.

Nano Nuclear Energy Trading Down 3.0%

NASDAQ NNE opened at $12.16 on Thursday. The firm’s fifty day moving average price is $16.41 and its two-hundred day moving average price is $20.34. Nano Nuclear Energy has a 1 year low of $11.95 and a 1 year high of $49.50. The firm has a market capitalization of $652.99 million, a P/E ratio of -17.62 and a beta of 5.49.

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 firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. On average, research analysts anticipate that Nano Nuclear Energy will post -0.80 EPS for the current fiscal year.

Insider Activity at Nano Nuclear Energy

In other Nano Nuclear Energy news, CEO James Walker sold 25,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $17.77, for a total value of $444,250.00. Following the transaction, the chief executive officer directly owned 635,000 shares in the company, valued at $11,283,950. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 18.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Nano Nuclear Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in Nano Nuclear Energy by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 3,819,847 shares of the company’s stock valued at $80,752,000 after buying an additional 810,022 shares during the last quarter. BlackRock Inc. acquired a new stake in Nano Nuclear Energy during the second quarter worth approximately $73,826,000. Lido Advisors LLC boosted its holdings 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 worth $3,521,000 after acquiring an additional 162,736 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Nano Nuclear Energy during the second quarter worth approximately $2,814,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Nano Nuclear Energy by 7.0% during the first quarter. Cetera Investment Advisers now owns 109,000 shares of the company’s stock worth $2,232,000 after acquiring an additional 7,166 shares during the period.

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.