Nano Nuclear Energy (NASDAQ:NNE) Shares Up 17.5% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was up 17.5% on Tuesday . The stock traded as high as $28.99 and last traded at $29.04. Approximately 3,028,629 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 4,374,616 shares. The stock had previously closed at $24.71.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark lifted their price target 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.

Nano Nuclear Energy Price Performance

The company’s 50-day simple moving average is $25.65 and its 200-day simple moving average is $18.99.

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

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors have recently modified their holdings of the company. State Street Corp bought a new stake in Nano Nuclear Energy in the third quarter worth approximately $718,000. Virtu Financial LLC acquired a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $933,000. Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at $954,000. Citizens Financial Group Inc. RI lifted its position 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 acquiring an additional 643,000 shares during the period. Finally, XTX Topco Ltd bought a new position in Nano Nuclear Energy during the third quarter worth $305,000.

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.