Nano Nuclear Energy (NASDAQ:NNE) Trading 1.2% Higher – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) was up 1.2% on Wednesday . The stock traded as high as $29.82 and last traded at $27.85. Approximately 891,553 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,868,571 shares. The stock had previously closed at $27.53.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The stock has a market capitalization of $1.05 billion and a P/E ratio of -69.04. The firm has a 50-day moving average price of $30.53 and a 200 day moving average price of $23.45.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. On average, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently modified their holdings of NNE. Anson Funds Management LP bought a new stake in Nano Nuclear Energy during the 4th quarter valued at $20,746,000. Hudson Bay Capital Management LP purchased a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $19,642,000. Vanguard Group Inc. lifted its stake in Nano Nuclear Energy by 2,838.5% in the fourth quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock worth $17,068,000 after acquiring an additional 662,287 shares during the period. Citizens Financial Group Inc. RI increased its position in Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after purchasing an additional 643,000 shares during the period. Finally, Van ECK Associates Corp purchased a new position in Nano Nuclear Energy during the 4th quarter valued at $11,311,000.

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.