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

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

A number of other research firms have also recently issued reports on NNE. Susquehanna set a $39.00 price target on shares of Nano Nuclear Energy in a 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 on the stock. Northland Securities set a $37.00 price objective on Nano Nuclear Energy in a research note on Friday, August 14th. Needham & Company LLC initiated coverage on Nano Nuclear Energy in a research report on Monday, September 21st. They set a “buy” rating and a $33.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and an average price target of $37.71.

Nano Nuclear Energy Stock Performance

Shares of Nano Nuclear Energy stock opened at $13.33 on Thursday. The firm 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 1-year low of $12.01 and a 1-year high of $49.50.

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, 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. Equities research analysts anticipate that Nano Nuclear Energy will post -0.80 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO James Walker sold 25,000 shares of the business’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 sale, the chief executive officer owned 635,000 shares in the company, valued at approximately $11,283,950. The trade was a 3.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 18.61% of the company’s stock.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Nano Nuclear Energy by 26.9% during the 2nd 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 in the last quarter. BlackRock Inc. bought a new stake in Nano Nuclear Energy during the second quarter worth about $73,826,000. Lido Advisors LLC increased 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 buying an additional 162,736 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Nano Nuclear Energy during the second quarter worth approximately $2,814,000. Finally, Cetera Investment Advisers raised its stake in shares of Nano Nuclear Energy by 7.0% in the first quarter. Cetera Investment Advisers now owns 109,000 shares of the company’s stock valued at $2,232,000 after acquiring an additional 7,166 shares during the last quarter.

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.