Nano Nuclear Energy (NASDAQ:NNE) Shares Up 6.5% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price shot up 6.5% during trading on Tuesday . The stock traded as high as $26.10 and last traded at $26.87. 630,340 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 3,874,860 shares. The stock had previously closed at $25.23.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Price Performance

The stock’s 50-day moving average price is $30.48 and its 200-day moving average price is $23.33. The company has a market cap of $1.02 billion and a P/E ratio of -67.19.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. As a group, 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

Large investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Nano Nuclear Energy in the 4th quarter valued at $299,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy in the fourth quarter worth $29,000. Nuveen Asset Management LLC acquired a new position in Nano Nuclear Energy in the fourth quarter valued at about $4,544,000. Millennium Management LLC bought a new stake in Nano Nuclear Energy during the fourth quarter worth about $1,253,000. Finally, Hudson Bay Capital Management LP acquired a new stake in Nano Nuclear Energy during the fourth quarter worth about $19,642,000.

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.