Nano Nuclear Energy (NASDAQ:NNE) Shares Up 17.5% – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price rose 17.5% during trading on Tuesday . The stock traded as high as $28.99 and last traded at $29.04. Approximately 3,028,629 shares were traded during 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

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

Nano Nuclear Energy Stock Performance

The business’s 50-day moving average is $26.10 and its two-hundred day moving average is $19.14.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new position in Nano Nuclear Energy in the third quarter worth approximately $25,000. Barclays PLC acquired a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at $76,000. Fulton Bank N.A. purchased a new position in shares of Nano Nuclear Energy during the 4th quarter worth $213,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Nano Nuclear Energy during the 4th quarter worth $227,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth about $250,000.

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.