Nano Nuclear Energy (NASDAQ:NNE) Trading Up 15.6% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 15.6% during mid-day trading on Wednesday . The company traded as high as $28.75 and last traded at $29.48. 1,747,131 shares were traded during trading, a decline of 72% from the average session volume of 6,260,439 shares. The stock had previously closed at $25.50.

Analysts Set New Price Targets

Several analysts have commented on the company. 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. Benchmark boosted their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The company has a market capitalization of $1.11 billion and a price-to-earnings ratio of -73.09. The stock has a 50 day simple moving average of $30.24 and a two-hundred day simple moving average of $22.16.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. Equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

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

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.