Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 12.4% – Time to Buy?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 12.4% during trading on Monday . The stock traded as high as $30.60 and last traded at $30.36. 2,840,810 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 2,820,145 shares. The stock had previously closed at $27.01.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NNE shares. Benchmark raised their price target on shares of 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 reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The stock has a 50 day moving average price of $24.89 and a 200 day moving average price of $18.98.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. On average, research analysts predict that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of large investors have recently bought and sold shares of NNE. JPMorgan Chase & Co. bought a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $25,000. Barclays PLC bought a new stake in Nano Nuclear Energy during the 3rd quarter valued at $76,000. Fulton Bank N.A. bought a new stake in Nano Nuclear Energy during the 4th quarter valued at $213,000. Commonwealth Equity Services LLC purchased a new stake in shares of Nano Nuclear Energy during the second quarter worth $250,000. Finally, XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy in the third quarter worth $305,000.

About Nano Nuclear Energy

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.