Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up - Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $30.50, but opened at $32.00. Nano Nuclear Energy shares last traded at $35.40, with a volume of 1,751,790 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Trading Up 13.4%

The business's 50-day simple moving average is $26.89 and its 200-day simple moving average is $28.06.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced 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). Equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Nano Nuclear Energy by 64.8% in the 4th quarter. Rhumbline Advisers now owns 6,212 shares of the company's stock worth $155,000 after purchasing an additional 2,442 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the fourth quarter valued at about $30,000. IFP Advisors Inc lifted its stake in Nano Nuclear Energy by 638.5% in the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company's stock valued at $37,000 after buying an additional 1,277 shares during the period. Rothschild Investment LLC bought a new position in Nano Nuclear Energy during the fourth quarter worth about $85,000. Finally, Bank of New York Mellon Corp grew its position in shares of Nano Nuclear Energy by 40.0% during the 4th quarter. Bank of New York Mellon Corp now owns 19,077 shares of the company's stock worth $475,000 after buying an additional 5,451 shares during the period.

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.