Nano Nuclear Energy (NASDAQ:NNE) Shares Up 1.4% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 1.4% on Wednesday . The company traded as high as $33.47 and last traded at $32.65. Approximately 1,940,277 shares changed hands during trading, a decline of 73% from the average daily volume of 7,076,015 shares. The stock had previously closed at $32.20.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NNE. Benchmark upped their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The business’s 50-day simple moving average is $29.11 and its 200-day simple moving average is $20.69.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. As a group, equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of large investors have recently bought and sold shares of NNE. Newbridge Financial Services Group Inc. acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter worth $200,000. Canal Insurance CO acquired a new position in Nano Nuclear Energy during the 4th quarter worth $622,000. State Street Corp bought a new stake in Nano Nuclear Energy during the third quarter valued at about $718,000. Virtu Financial LLC bought a new position in shares of Nano Nuclear Energy in the third quarter worth about $933,000. Finally, SG Americas Securities LLC acquired a new position in shares of Nano Nuclear Energy during the 4th quarter worth about $345,000.

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.