Nano Nuclear Energy (NASDAQ:NNE) Trading Up 2.7% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) was up 2.7% during mid-day trading on Tuesday . The company traded as high as $22.12 and last traded at $20.94. Approximately 1,828,086 shares changed hands during trading, a decline of 60% from the average daily volume of 4,583,621 shares. The stock had previously closed at $20.39.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NNE. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark increased their price target on 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 Performance

The stock’s 50-day moving average price is $25.37 and its 200-day moving average price is $19.04.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. Research analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. Fulton Bank N.A. acquired a new position in Nano Nuclear Energy during the fourth quarter worth $213,000. JPMorgan Chase & Co. acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $25,000. Virtu Financial LLC bought a new stake in Nano Nuclear Energy during the third quarter worth about $933,000. Barclays PLC acquired a new position in Nano Nuclear Energy during the third quarter valued at approximately $76,000. Finally, Geode Capital Management LLC acquired a new position in Nano Nuclear Energy during the third quarter valued at approximately $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.