Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 2% – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price rose 2% during mid-day trading on Monday . The stock traded as high as $31.66 and last traded at $30.87. Approximately 1,008,042 shares were traded during trading, a decline of 74% from the average daily volume of 3,842,021 shares. The stock had previously closed at $30.26.

Wall Street Analyst Weigh In

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

Nano Nuclear Energy Trading Up 1.3 %

The stock’s 50 day moving average is $30.74 and its 200 day moving average is $23.83. The stock has a market capitalization of $1.14 billion and a price-to-earnings ratio of -74.84.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds have recently made changes to their positions in NNE. Anson Funds Management LP purchased a new position in Nano Nuclear Energy in the fourth quarter valued at approximately $20,746,000. Hudson Bay Capital Management LP bought a new position in Nano Nuclear Energy during the 4th quarter valued at $19,642,000. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 662,287 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after acquiring an additional 643,000 shares during the period. Finally, Van ECK Associates Corp acquired a new position in Nano Nuclear Energy during the 4th quarter valued at approximately $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.