Nano Nuclear Energy (NASDAQ:NNE) Trading Up 10.7% – Still a Buy?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were up 10.7% during mid-day trading on Thursday . The stock traded as high as $41.98 and last traded at $40.45. Approximately 4,334,995 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 7,091,925 shares. The stock had previously closed at $36.54.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NNE. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday. Benchmark increased their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Trading Up 9.5 %

The firm’s fifty day moving average is $27.62 and its 200-day moving average is $19.55.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently made changes to their positions in the stock. Canal Insurance CO acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at $622,000. State Street Corp acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $718,000. Virtu Financial LLC purchased a new position in Nano Nuclear Energy during the 3rd quarter valued at about $933,000. Geode Capital Management LLC acquired a new position in Nano Nuclear Energy during the third quarter worth about $954,000. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of 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 purchasing an additional 643,000 shares in 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.