Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 0.8% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 0.8% on Thursday . The company traded as high as $31.85 and last traded at $29.87. 2,235,407 shares changed hands during trading, a decline of 64% from the average session volume of 6,248,249 shares. The stock had previously closed at $29.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NNE shares. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark boosted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The firm’s 50 day simple moving average is $30.36 and its two-hundred day simple moving average is $22.21. The firm has a market capitalization of $1.02 billion and a P/E ratio of -67.20.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. As a group, equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of Nano Nuclear Energy during the third quarter worth about $25,000. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy during the 4th quarter valued at approximately $29,000. New York State Common Retirement Fund purchased a new stake in Nano Nuclear Energy in the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd purchased a new stake in Nano Nuclear Energy in the 4th quarter worth approximately $30,000. Finally, IFP Advisors Inc grew its position in shares of Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after buying an additional 1,277 shares during the last quarter.

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.