Nano Nuclear Energy (NASDAQ:NNE) Given New $19.00 Price Target at Truist Financial

Nano Nuclear Energy (NASDAQ:NNE) had its price target lowered by Truist Financial from $22.00 to $19.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential upside of 42.54% from the company’s current price.

NNE has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Thursday, October 15th. Needham & Company LLC initiated coverage on shares of Nano Nuclear Energy in a research report on Monday, September 21st. They set a “buy” rating and a $33.00 price objective on the stock. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Alliance Global Partners started coverage on shares of 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. Finally, Northland Securities set a $37.00 target price on shares of Nano Nuclear Energy in a research report on Friday, August 14th. One investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.71.

Nano Nuclear Energy Stock Up 2.9%

Shares of Nano Nuclear Energy stock opened at $13.33 on Thursday. The business has a fifty day simple moving average of $16.72 and a 200-day simple moving average of $20.46. Nano Nuclear Energy has a 12 month low of $12.01 and a 12 month high of $49.50.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.50 million. As a group, equities research analysts expect that Nano Nuclear Energy will post -0.80 EPS for the current year.

Insider Activity at Nano Nuclear Energy

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

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in Nano Nuclear Energy during the first quarter valued at about $36,000. State of Wyoming bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth about $45,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth about $55,000. Global Retirement Partners LLC acquired a new position in shares of Nano Nuclear Energy during the 2nd quarter valued at about $68,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Nano Nuclear Energy by 131.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,439 shares of the company’s stock valued at $55,000 after acquiring an additional 1,952 shares during the last quarter.

About Nano Nuclear Energy

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.