Nano Nuclear Energy (NASDAQ:NNE) Shares Up 5.6% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded up 5.6% during trading on Wednesday . The stock traded as high as $39.10 and last traded at $39.13. 3,142,621 shares traded hands during trading, a decline of 55% from the average session volume of 7,061,957 shares. The stock had previously closed at $37.07.

Analyst Ratings Changes

A number of research firms recently weighed in on NNE. Benchmark upped 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. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Trading Up 5.1 %

The company’s 50 day moving average price is $28.70 and its 200-day moving average price is $20.21.

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

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors have recently made changes to their positions in NNE. Citizens Financial Group Inc. RI lifted its position in shares of Nano Nuclear Energy by 23.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company’s stock worth $22,406,000 after buying an additional 171,000 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Nano Nuclear Energy during the fourth quarter worth about $271,000. SBI Securities Co. Ltd. bought a new position in Nano Nuclear Energy in the fourth quarter worth about $66,000. Jones Financial Companies Lllp boosted its stake in Nano Nuclear Energy by 674.6% in the fourth quarter. Jones Financial Companies Lllp now owns 9,683 shares of the company’s stock valued at $241,000 after acquiring an additional 8,433 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $774,000.

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.