Nano Nuclear Energy (NASDAQ:NNE) Shares Up 7.1% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price rose 7.1% during mid-day trading on Wednesday . The company traded as high as $35.77 and last traded at $34.47. Approximately 5,132,095 shares changed hands during trading, an increase of 3% from the average daily volume of 5,004,004 shares. The stock had previously closed at $32.18.

Analysts Set New Price Targets

NNE has been the topic of a number of analyst reports. Benchmark increased their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The firm has a 50 day simple moving average of $25.83 and a two-hundred day simple moving average of $19.01.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. On average, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp bought a new stake in Nano Nuclear Energy during the third quarter worth $718,000. Virtu Financial LLC bought a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at $933,000. Geode Capital Management LLC bought a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at $954,000. Citizens Financial Group Inc. RI lifted its stake in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after acquiring an additional 643,000 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at $305,000.

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.