Nano Nuclear Energy (NASDAQ:NNE) Trading 3.9% Higher - Time to Buy?

Key Points

• Nano Nuclear Energy's shares increased by 3.9% on Monday, trading between $36.33 and $35.30, although total volume was down 73% from the average daily volume.
• Equities analysts universally rate the stock positively, with a consensus target price of $51.75 and ratings ranging from "outperform" to "strong buy."
• The company recently reported a loss of ($0.57) earnings per share, significantly missing the analyst consensus estimate of ($0.11) for the quarter.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price traded up 3.9% on Monday . The stock traded as high as $36.33 and last traded at $35.30. 1,066,439 shares were traded during trading, a decline of 73% from the average session volume of 3,914,411 shares. The stock had previously closed at $33.99.

Analysts Set New Price Targets

A number of research analysts have recently commented on NNE shares. LADENBURG THALM/SH SH began coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They set a "buy" rating and a $51.00 target price on the stock. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Northland Securities assumed coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They set an "outperform" rating and a $40.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nano Nuclear Energy presently has an average rating of "Buy" and a consensus price target of $51.75.

Nano Nuclear Energy Stock Down 4.4%

The firm has a market cap of $1.52 billion, a P/E ratio of -40.16 and a beta of 7.15. The business has a fifty day moving average of $34.59 and a 200 day moving average of $30.51.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.46). Research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP purchased a new position in Nano Nuclear Energy during the 4th quarter valued at about $19,642,000. Anson Funds Management LP bought a new stake in Nano Nuclear Energy in the fourth quarter worth $20,746,000. Vanguard Group Inc. lifted its position in 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 buying an additional 662,287 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $4,544,000. Finally, Exchange Traded Concepts LLC bought a new position in Nano Nuclear Energy in the second quarter worth approximately $6,269,000.

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.