Nano Nuclear Energy (NASDAQ:NNE) Sees Large Volume Increase – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) saw unusually-strong trading volume on Wednesday . Approximately 4,157,882 shares traded hands during mid-day trading, a decline of 15% from the previous session’s volume of 4,900,805 shares.The stock last traded at $33.86 and had previously closed at $32.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NNE shares. Benchmark lifted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Trading Up 4.1 %

The stock has a fifty day simple moving average of $26.50 and a 200-day simple moving average of $19.30.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, topping 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.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently made changes to their positions in NNE. JPMorgan Chase & Co. acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $25,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth $76,000. Fulton Bank N.A. purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $213,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $227,000. Finally, XTX Topco Ltd purchased a new position in Nano Nuclear Energy during the third quarter worth about $305,000.

Nano Nuclear Energy Company Profile

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.