Nano Nuclear Energy (NASDAQ:NNE) Shares Up 3.7% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were up 3.7% on Thursday . The stock traded as high as $38.45 and last traded at $38.29. Approximately 1,587,467 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 3,824,648 shares. The stock had previously closed at $36.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NNE shares. LADENBURG THALM/SH SH initiated coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They issued a “buy” rating and a $51.00 price objective for the company. Northland Capmk upgraded shares of Nano Nuclear Energy to a “strong-buy” rating in a research report on Monday, July 7th. Northland Securities initiated coverage on shares of Nano Nuclear Energy in a research report on Monday, July 7th. They set an “outperform” rating and a $40.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Monday, March 31st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $51.75.

Nano Nuclear Energy Trading Up 7.4%

The firm’s 50 day moving average is $33.67 and its two-hundred day moving average is $29.83. The firm has a market cap of $1.74 billion, a P/E ratio of -45.99 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.46). Analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NNE. North Capital Inc. bought a new position in Nano Nuclear Energy in the first quarter valued at approximately $26,000. Marshall Investment Management LLC bought a new position in Nano Nuclear Energy in the first quarter valued at $27,000. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy in the fourth quarter valued at $29,000. Aster Capital Management DIFC Ltd bought a new position in Nano Nuclear Energy in the fourth quarter valued at $30,000. Finally, KBC Group NV bought a new position in Nano Nuclear Energy in the first quarter valued at $31,000.

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.