Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 10.7% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price rose 10.7% during mid-day trading on Thursday . The stock traded as high as $41.98 and last traded at $40.45. Approximately 4,334,995 shares traded hands during trading, a decline of 39% from the average daily volume of 7,091,925 shares. The stock had previously closed at $36.54.

Wall Street Analysts Forecast Growth

NNE has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday. Benchmark upped 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.

Nano Nuclear Energy Stock Performance

The company has a 50 day simple moving average of $27.93 and a two-hundred day simple moving average of $19.79.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. As a group, equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter worth about $30,000. Rhumbline Advisers boosted its position in Nano Nuclear Energy by 64.8% during the fourth quarter. Rhumbline Advisers now owns 6,212 shares of the company’s stock worth $155,000 after purchasing an additional 2,442 shares in the last quarter. Van ECK Associates Corp purchased a new position in Nano Nuclear Energy during the fourth quarter worth approximately $11,311,000. Gladstone Institutional Advisory LLC purchased a new position in Nano Nuclear Energy during the fourth quarter worth approximately $321,000. Finally, Powell Investment Advisors LLC purchased a new position in Nano Nuclear Energy during the fourth quarter worth approximately $602,000.

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.