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 $33.26, but opened at $35.99. Nano Nuclear Energy shares last traded at $33.87, with a volume of 1,828,729 shares trading hands.

Analyst Upgrades and Downgrades

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

Nano Nuclear Energy Stock Up 5.0 %

The business’s 50-day moving average price is $27.36 and its 200-day moving average price is $19.43.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results 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. As a group, research 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

Several large investors have recently made changes to their positions in NNE. Citizens Financial Group Inc. RI increased its stake in shares of Nano Nuclear Energy by 747.7% during the 3rd 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 last quarter. Van ECK Associates Corp acquired a new position in Nano Nuclear Energy during the 4th quarter worth $11,311,000. Perigon Wealth Management LLC acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth approximately $2,564,000. Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $954,000. Finally, Virtu Financial LLC acquired a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at about $933,000.

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.