Nano Nuclear Energy (NASDAQ:NNE) Trading Up 5.6% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NNE shares. Benchmark increased their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The stock’s fifty day simple moving average is $28.70 and its two-hundred day simple moving average is $20.21.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. Equities research analysts anticipate 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 bought and sold shares of the stock. Citizens Financial Group Inc. RI boosted 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 valued at $10,505,000 after buying an additional 643,000 shares during the period. State Street Corp bought a new position in Nano Nuclear Energy in the 3rd quarter worth approximately $718,000. XTX Topco Ltd bought a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $305,000. Barclays PLC bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at $76,000. Finally, Geode Capital Management LLC acquired a new position in Nano Nuclear Energy in the third quarter worth about $954,000.

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.