Nano Nuclear Energy (NASDAQ:NNE) Shares Up 7.1% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price shot up 7.1% during mid-day trading on Wednesday . The company traded as high as $35.77 and last traded at $34.47. 5,132,095 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 5,004,004 shares. The stock had previously closed at $32.18.

Wall Street Analyst Weigh In

NNE has been the topic of a number of research reports. Benchmark boosted their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Stock Up 11.3 %

The business has a fifty day moving average price of $25.83 and a 200 day moving average price of $19.01.

Nano Nuclear Energy (NASDAQ:NNE) last released 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. On average, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors have recently bought and sold shares of NNE. Citizens Financial Group Inc. RI grew its position in shares of 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 purchasing an additional 643,000 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $954,000. Virtu Financial LLC acquired a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $933,000. State Street Corp acquired a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $718,000. Finally, XTX Topco Ltd acquired a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $305,000.

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.