Nano Nuclear Energy (NASDAQ:NNE) Trading 2.7% Higher – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 2.7% on Wednesday . The stock traded as high as $31.17 and last traded at $30.94. Approximately 467,811 shares traded hands during trading, a decline of 88% from the average daily volume of 3,821,005 shares. The stock had previously closed at $30.12.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Stock Performance

The stock has a 50-day moving average of $30.70 and a two-hundred day moving average of $24.11. The company has a market cap of $1.15 billion and a P/E ratio of -75.71.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $29,000. New York State Common Retirement Fund bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Nano Nuclear Energy in the fourth quarter worth $30,000. IFP Advisors Inc lifted its holdings in shares of Nano Nuclear Energy by 638.5% during the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after purchasing an additional 1,277 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Nano Nuclear Energy during the third quarter valued at $25,000.

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.