Nano Nuclear Energy (NASDAQ:NNE) Reaches New 12-Month High - Time to Buy?

Key Points

• Nano Nuclear Energy's stock reached a new 12-month high of $60.87, closing at $57.60 after a trading volume of 2.63 million shares.
• Despite the recent highs, Weiss Ratings reiterated a "sell" rating, while other analysts have a mixed outlook with one "Strong Buy" and several "Buy" ratings, averaging a price target of $51.75.
• The company reported earnings of ($0.19) per share for the last quarter, exceeding analysts' expectations by $0.08, although forecasts suggest a projected EPS of -0.92 for the current fiscal year.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $60.87 and last traded at $57.60, with a volume of 2632679 shares changing hands. The stock had previously closed at $54.38.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NNE. Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Friday, August 15th. BTIG Research started coverage on Nano Nuclear Energy in a report on Thursday, August 28th. They issued a "neutral" rating on the stock. LADENBURG THALM/SH SH initiated coverage on Nano Nuclear Energy in a report on Thursday, July 10th. They issued a "buy" rating and a $51.00 target price on the stock. Finally, Northland Securities initiated coverage on Nano Nuclear Energy in a report on Monday, July 7th. They set an "outperform" rating and a $40.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nano Nuclear Energy has an average rating of "Moderate Buy" and an average price target of $51.75.

Nano Nuclear Energy Stock Down 4.7%

The company has a market cap of $2.16 billion, a P/E ratio of -55.90 and a beta of 6.80. The firm has a 50 day moving average of $37.94 and a 200-day moving average of $32.62.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. On average, research analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC boosted its stake in shares of Nano Nuclear Energy by 9.3% during the 2nd quarter. Rothschild Investment LLC now owns 6,655 shares of the company's stock worth $230,000 after acquiring an additional 565 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Nano Nuclear Energy by 15.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,123 shares of the company's stock valued at $211,000 after buying an additional 815 shares in the last quarter. IFP Advisors Inc lifted its stake in Nano Nuclear Energy by 27.9% in the 2nd quarter. IFP Advisors Inc now owns 4,128 shares of the company's stock valued at $142,000 after buying an additional 900 shares in the last quarter. North Capital Inc. purchased a new position in Nano Nuclear Energy in the 1st quarter valued at about $26,000. Finally, Marshall Investment Management LLC purchased a new position in Nano Nuclear Energy in the 1st quarter valued at about $27,000.

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.

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