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

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped up before the market opened on Tuesday . The stock had previously closed at $33.26, but opened at $35.99. Nano Nuclear Energy shares last traded at $33.87, with a volume of 1,828,729 shares.

Analysts Set New Price Targets

Several brokerages recently commented on NNE. Benchmark upped their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday.

Nano Nuclear Energy Price Performance

The stock has a 50-day simple moving average of $27.36 and a 200-day simple moving average of $19.43.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data 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. Equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NNE. Citizens Financial Group Inc. RI raised its holdings in Nano Nuclear Energy by 747.7% during the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth $11,311,000. Perigon Wealth Management LLC bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $2,564,000. Geode Capital Management LLC acquired a new position in Nano Nuclear Energy during the third quarter worth about $954,000. Finally, Virtu Financial LLC bought a new stake in Nano Nuclear Energy in the third quarter worth about $933,000.

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.