Nano Nuclear Energy (NASDAQ:NNE) Stock Rating Upgraded by Wall Street Zen

Nano Nuclear Energy (NASDAQ:NNE) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also issued reports about the stock. New Street Research set a $45.00 price target on shares of Nano Nuclear Energy in a research note on Thursday. Northland Securities set a $37.00 price objective on shares of Nano Nuclear Energy in a research note on Friday. Alliance Global Partners began coverage on shares of Nano Nuclear Energy in a report on Monday, July 27th. They issued a “buy” rating and a $46.00 price objective on the stock. Roth Capital assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday, June 17th. They set a “buy” rating and a $45.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Nano Nuclear Energy Stock Performance

NNE opened at $19.66 on Friday. The stock has a fifty day simple moving average of $19.99 and a two-hundred day simple moving average of $23.32. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -28.49 and a beta of 5.42. Nano Nuclear Energy has a 12-month low of $14.71 and a 12-month high of $60.87.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.07. The firm had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, analysts predict that Nano Nuclear Energy will post -0.9 EPS for the current year.

Insider Activity

In related news, Chairman Jiang Yu sold 700,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the sale, the chairman owned 8,224,000 shares of the company’s stock, valued at $219,416,320. This trade represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder I Financial Ventures Group Llc sold 700,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $26.68, for a total transaction of $18,676,000.00. Following the completion of the transaction, the insider owned 8,224,000 shares of the company’s stock, valued at approximately $219,416,320. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,616,981 shares of company stock valued at $43,096,346. Company insiders own 18.61% of the company’s stock.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Harbour Investments Inc. raised its stake in shares of Nano Nuclear Energy by 275.7% in the fourth quarter. Harbour Investments Inc. now owns 1,176 shares of the company’s stock worth $28,000 after purchasing an additional 863 shares during the last quarter. Ascentis Independent Advisors bought a new position in shares of Nano Nuclear Energy during the first quarter valued at $36,000. State of Wyoming purchased a new stake in shares of Nano Nuclear Energy during the second quarter valued at $45,000. US Bancorp DE boosted its position in shares of Nano Nuclear Energy by 51.9% during the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after buying an additional 400 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Nano Nuclear Energy in the 3rd quarter worth about $48,000.

Nano Nuclear Energy Company Profile

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.