Nano Nuclear Energy (NASDAQ:NNE) Trading 9.5% Higher – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price rose 9.5% on Friday . The company traded as high as $25.84 and last traded at $25.64. Approximately 1,562,217 shares changed hands during trading, a decline of 64% from the average daily volume of 4,312,286 shares. The stock had previously closed at $23.41.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th. Benchmark upped their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Stock Performance

The firm has a 50 day moving average price of $25.52 and a 200-day moving average price of $19.05.

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

Institutional Trading of Nano Nuclear Energy

Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC bought a new stake in shares of Nano Nuclear Energy in the 2nd quarter worth approximately $250,000. Citizens Financial Group Inc. RI lifted its position in Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares during the period. State Street Corp acquired a new stake in Nano Nuclear Energy during the third quarter worth $718,000. XTX Topco Ltd bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at $305,000. Finally, Barclays PLC acquired a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at about $76,000.

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.