Nano Nuclear Energy (NASDAQ:NNE) Trading 2% Higher – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 2% during trading on Monday . The stock traded as high as $31.66 and last traded at $30.87. 1,008,042 shares changed hands during trading, a decline of 74% from the average session volume of 3,842,021 shares. The stock had previously closed at $30.26.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued 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 company has a market capitalization of $1.12 billion and a P/E ratio of -73.46. The business’s fifty 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. As a group, analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Nano Nuclear Energy by 19.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock worth $52,000 after acquiring an additional 331 shares during the period. Ameriflex Group Inc. purchased a new position in Nano Nuclear Energy during the 4th quarter worth $29,000. New York State Common Retirement Fund bought a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc raised its stake in Nano Nuclear Energy by 638.5% in the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after buying an additional 1,277 shares in the last quarter.

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.