Nano Nuclear Energy (NASDAQ:NNE) Shares Up 5.6% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price shot up 5.6% during trading on Wednesday . The company traded as high as $39.10 and last traded at $39.13. 3,142,621 shares were traded during mid-day trading, a decline of 55% from the average session volume of 7,061,957 shares. The stock had previously closed at $37.07.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NNE shares. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, January 29th. Benchmark lifted their target price 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.

Nano Nuclear Energy Stock Performance

The firm’s fifty day moving average is $28.39 and its 200 day moving average is $20.01.

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

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund bought a new stake in Nano Nuclear Energy in the fourth quarter worth about $30,000. IFP Advisors Inc increased its position in shares of Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after purchasing an additional 1,277 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $25,000. Rothschild Investment LLC purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $85,000. Finally, Barclays PLC bought a new stake in Nano Nuclear Energy during the 3rd quarter valued at approximately $76,000.

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.