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

Nano Nuclear Energy Inc. (NASDAQ:NNE) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $35.25.

Several research analysts recently weighed in on the stock. Susquehanna set a $39.00 price target on shares of Nano Nuclear Energy in a report on Thursday, October 1st. Wall Street Zen upgraded shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Needham & Company LLC initiated coverage on shares of Nano Nuclear Energy in a research note on Monday, September 21st. They issued a “buy” rating and a $33.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Thursday, October 15th. Finally, Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research report on Thursday, August 13th.

Nano Nuclear Energy Stock Up 4.3%

NNE opened at $11.43 on Wednesday. The firm’s fifty day moving average price is $15.46 and its two-hundred day moving average price is $21.59. Nano Nuclear Energy has a 1 year low of $10.87 and a 1 year high of $45.46.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. The firm had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.50 million. Sell-side analysts predict that Nano Nuclear Energy will post -0.80 EPS for the current fiscal year.

Insider Activity

In related news, CEO James Walker sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.77, for a total transaction of $444,250.00. Following the completion of the sale, the chief executive officer directly owned 635,000 shares of the company’s stock, valued at approximately $11,283,950. This trade represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC increased its position in shares of Nano Nuclear Energy by 337.7% during the 3rd quarter. Signaturefd LLC now owns 1,637 shares of the company’s stock valued at $26,000 after purchasing an additional 1,263 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of Nano Nuclear Energy during the 1st quarter worth $36,000. State of Wyoming purchased a new position in shares of Nano Nuclear Energy in the 2nd quarter worth about $45,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Nano Nuclear Energy in the 2nd quarter worth about $55,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Nano Nuclear Energy in the 2nd quarter worth about $68,000.

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.