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

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares rose 2% during trading on Monday . The company traded as high as $31.66 and last traded at $30.87. Approximately 1,008,042 shares changed hands 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 Analysts Forecast Growth

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

Nano Nuclear Energy Stock Performance

The company has a market cap of $1.12 billion and a price-to-earnings ratio of -73.46. The firm’s 50 day simple moving average is $30.70 and its 200-day simple moving average is $24.11.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds have recently modified their holdings of the stock. Central Asset Investments & Management Holdings HK Ltd acquired a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $774,000. Newbridge Financial Services Group Inc. bought a new stake in Nano Nuclear Energy during the fourth quarter valued at $200,000. Canal Insurance CO acquired a new position in Nano Nuclear Energy during the 4th quarter valued at about $622,000. State Street Corp bought a new stake in shares of Nano Nuclear Energy during the third quarter valued at about $718,000. Finally, Powell Investment Advisors LLC bought a new position in Nano Nuclear Energy during the 4th quarter valued at $602,000.

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.