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

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded up 5.6% on Monday . The stock traded as high as $26.00 and last traded at $24.71. 3,774,966 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 3,357,008 shares. The stock had previously closed at $23.41.

Analyst Ratings Changes

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

Nano Nuclear Energy Stock Up 5.6 %

The company’s fifty day moving average price is $25.59 and its 200 day moving average price is $18.98.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.08. As a group, sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new position in Nano Nuclear Energy during the second quarter valued at about $250,000. Citizens Financial Group Inc. RI boosted its stake 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 valued at $10,505,000 after acquiring an additional 643,000 shares during the last quarter. State Street Corp bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at approximately $718,000. XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $305,000. Finally, Barclays PLC bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth 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.