Nano Nuclear Energy (NASDAQ:NNE) Hits New 12-Month High - Should You Buy?

Key Points

• Nano Nuclear Energy's stock hit a new 12-month high of $55.30, closing at $51.49, marking a significant increase from a previous closing price of $44.49.
• Analyst ratings have been generally positive, with Northland Capital Markets upgrading the stock to "strong-buy" and setting a price target of $40, alongside a consensus rating of "Moderate Buy" from multiple analysts.
• The company reported a quarterly EPS of ($0.19), surpassing expectations, and institutional investors have significantly increased their holdings in the first quarter of this year.

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $55.30 and last traded at $51.49, with a volume of 3049555 shares traded. The stock had previously closed at $44.49.

Analyst Ratings Changes

NNE has been the topic of a number of analyst reports. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Northland Securities started coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Friday, August 15th. LADENBURG THALM/SH SH began coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They issued a "buy" rating and a $51.00 target price for the company. Finally, BTIG Research initiated coverage on shares of Nano Nuclear Energy in a research report on Thursday, August 28th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Nano Nuclear Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Stock Up 23.3%

The business has a fifty day moving average of $35.80 and a 200 day moving average of $31.59. The firm has a market cap of $2.28 billion, a P/E ratio of -59.03 and a beta of 6.80.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. Research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Nano Nuclear Energy by 445.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 59,291 shares of the company's stock worth $1,569,000 after acquiring an additional 48,424 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Nano Nuclear Energy by 113.8% in the first quarter. SG Americas Securities LLC now owns 29,586 shares of the company's stock valued at $783,000 after purchasing an additional 15,747 shares during the last quarter. Swiss National Bank bought a new position in shares of Nano Nuclear Energy during the first quarter worth approximately $1,220,000. New York State Common Retirement Fund lifted its holdings in Nano Nuclear Energy by 533.3% during the 1st quarter. New York State Common Retirement Fund now owns 7,600 shares of the company's stock worth $201,000 after purchasing an additional 6,400 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Nano Nuclear Energy by 43.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 60,103 shares of the company's stock valued at $1,590,000 after purchasing an additional 18,188 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.

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