Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $31.81, but opened at $33.08. Nano Nuclear Energy shares last traded at $33.6120, with a volume of 575,553 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NNE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Friday, August 15th. Finally, BTIG Research began coverage on Nano Nuclear Energy in a report on Thursday, August 28th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Stock Performance

The business has a 50 day simple moving average of $42.19 and a 200-day simple moving average of $36.09. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -35.34 and a beta of 6.80.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors have recently bought and sold shares of NNE. US Bancorp DE lifted its position in shares of Nano Nuclear Energy by 51.9% during the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. Rothschild Investment LLC grew its position in Nano Nuclear Energy by 9.3% in the 2nd quarter. Rothschild Investment LLC now owns 6,655 shares of the company’s stock worth $230,000 after purchasing an additional 565 shares in the last quarter. CWM LLC increased its stake in Nano Nuclear Energy by 17.7% in the 3rd quarter. CWM LLC now owns 3,837 shares of the company’s stock valued at $148,000 after buying an additional 576 shares during the last quarter. Swiss National Bank lifted its position in shares of Nano Nuclear Energy by 1.2% during the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock worth $2,325,000 after buying an additional 700 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Nano Nuclear Energy by 8.6% in the 3rd quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock worth $354,000 after buying an additional 727 shares during the last quarter.

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.