Nano Nuclear Energy (NASDAQ:NNE) Shares Up 5.6% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price was up 5.6% during mid-day trading on Monday . The stock traded as high as $26.00 and last traded at $24.71. Approximately 3,774,966 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 3,357,008 shares. The stock had previously closed at $23.41.

Analysts Set New Price Targets

Several analysts have issued reports on NNE shares. Benchmark upped their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th.

Nano Nuclear Energy Stock Up 30.2 %

The company has a 50 day moving average price of $25.65 and a 200 day moving average price of $18.99.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. Sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds have recently bought and sold shares of NNE. Citizens Financial Group Inc. RI lifted its stake in Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares in the last quarter. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $954,000. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $933,000. State Street Corp acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $718,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $305,000.

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.