Nano Nuclear Energy (NASDAQ:NNE) Shares Up 6.7% – Should You Buy?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were up 6.7% during trading on Wednesday . The stock traded as high as $23.50 and last traded at $22.81. Approximately 1,906,575 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 4,494,127 shares. The stock had previously closed at $21.38.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NNE shares. Benchmark upped their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a 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 Trading Up 7.3 %

The stock’s fifty day simple moving average is $25.44 and its 200-day simple moving average is $19.03.

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 analysts’ consensus estimates of ($0.16) by $0.08. Equities analysts predict that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds have recently added to or reduced their stakes in NNE. JPMorgan Chase & Co. acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at $25,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at $76,000. Fulton Bank N.A. acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $213,000. Commonwealth Equity Services LLC acquired a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at $250,000. Finally, XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at $305,000.

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.