Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped up before the market opened on Tuesday . The stock had previously closed at $24.71, but opened at $26.63. Nano Nuclear Energy shares last traded at $27.06, with a volume of 1,021,951 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NNE. Benchmark boosted their price objective on shares of 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 restated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Stock Up 18.5 %

The firm’s 50-day simple moving average is $25.65 and its 200-day simple moving average is $18.99.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. Sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors have recently added to or reduced their stakes in NNE. JPMorgan Chase & Co. acquired a new position in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $25,000. Barclays PLC acquired a new position in Nano Nuclear Energy in the third quarter worth $76,000. Fulton Bank N.A. bought a new stake in shares of Nano Nuclear Energy during the fourth quarter worth $213,000. Commonwealth Equity Services LLC acquired a new stake in shares of Nano Nuclear Energy in the second quarter valued at $250,000. Finally, XTX Topco Ltd acquired a new position in Nano Nuclear Energy during the 3rd quarter worth about $305,000.

About Nano Nuclear Energy

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.