Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 4.7% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price shot up 4.7% during mid-day trading on Friday . The stock traded as high as $21.09 and last traded at $20.47. 1,480,661 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 2,979,906 shares. The stock had previously closed at $19.56.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NNE shares. HC Wainwright initiated coverage on Nano Nuclear Energy in a research report on Wednesday. They issued a “buy” rating and a $50.00 price target for the company. Benchmark restated a “buy” rating and issued a $39.00 price objective on shares of Nano Nuclear Energy in a report on Monday, July 15th.

Nano Nuclear Energy Stock Down 1.5 %

The company has a 50-day moving average of $15.13.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter. On average, research analysts expect that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nano Nuclear Energy stock. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,665 shares of the company’s stock, valued at approximately $250,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.