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

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

Wall Street Analyst Weigh In

A number of brokerages have commented on NNE. Benchmark increased their target price 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 reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday.

Nano Nuclear Energy Trading Down 3.5 %

The business has a fifty day simple moving average of $27.93 and a 200 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) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. Equities research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new stake in Nano Nuclear Energy during the third quarter worth $25,000. New York State Common Retirement Fund acquired a new stake in Nano Nuclear Energy during the fourth quarter worth $30,000. Barclays PLC acquired a new stake in Nano Nuclear Energy during the third quarter worth $76,000. Rhumbline Advisers increased its stake 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 acquiring an additional 2,442 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Nano Nuclear Energy during the fourth quarter worth $200,000.

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.