Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Should You Buy?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped up before the market opened on Thursday . The stock had previously closed at $23.09, but opened at $25.00. Nano Nuclear Energy shares last traded at $23.82, with a volume of 731,416 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Benchmark boosted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright assumed coverage on Nano Nuclear Energy in a research note on Wednesday, October 30th. They set a “buy” rating and a $50.00 price target on the stock.

Nano Nuclear Energy Trading Down 4.2 %

The company has a fifty day simple moving average of $17.16.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.17) EPS for the quarter. Analysts predict that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC acquired a new position in Nano Nuclear Energy during the third quarter valued at $76,000. Commonwealth Equity Services LLC acquired a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at about $250,000. XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth about $305,000. State Street Corp acquired a new stake in Nano Nuclear Energy during the third quarter worth about $718,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in Nano Nuclear Energy during the second quarter worth about $2,016,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.