Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 17.5% – Still a Buy?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 17.5% during trading on Thursday . The company traded as high as $43.70 and last traded at $42.83. 7,076,739 shares changed hands during trading, an increase of 27% from the average session volume of 5,589,519 shares. The stock had previously closed at $36.45.

Wall Street Analyst Weigh In

A number of research firms recently commented on NNE. Benchmark boosted their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Trading Up 19.2 %

The company has a fifty day moving average price of $26.10 and a 200 day moving average price of $19.14.

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 analysts’ consensus estimates of ($0.16) by $0.08. As a group, research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI increased its stake in shares of Nano Nuclear Energy by 747.7% during the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after buying an additional 643,000 shares during the period. Perigon Wealth Management LLC purchased a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $2,564,000. Geode Capital Management LLC purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at approximately $954,000. Virtu Financial LLC purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at approximately $933,000. Finally, State Street Corp purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at approximately $718,000.

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.