Nano Nuclear Energy (NASDAQ:NNE) Shares Up 6.3% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price shot up 6.3% during mid-day trading on Monday . The stock traded as high as $32.24 and last traded at $32.08. 1,148,239 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 5,052,126 shares. The stock had previously closed at $30.19.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The company has a market cap of $1.19 billion and a PE ratio of -78.06. The company has a 50-day moving average price of $30.96 and a two-hundred day moving average price of $24.57.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. On average, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of large investors have recently added to or reduced their stakes in the company. Anson Funds Management LP acquired a new position in Nano Nuclear Energy in the 4th quarter worth $20,746,000. Hudson Bay Capital Management LP purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $19,642,000. Vanguard Group Inc. lifted its stake in shares of Nano Nuclear Energy by 2,838.5% in the fourth quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock worth $17,068,000 after acquiring an additional 662,287 shares in the last quarter. Van ECK Associates Corp purchased a new position in Nano Nuclear Energy in the fourth quarter valued at about $11,311,000. Finally, Nuveen Asset Management LLC acquired a new stake in Nano Nuclear Energy during the 4th quarter valued at approximately $4,544,000.

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.