Nano Nuclear Energy (NASDAQ:NNE) Shares Up 3.9% - Still a 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 share price was up 3.9% during trading on Monday . The company traded as high as $36.33 and last traded at $35.30. Approximately 1,066,439 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,914,411 shares. The stock had previously closed at $33.99.

Wall Street Analyst Weigh In

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

Nano Nuclear Energy Trading Up 4.7%

The stock has a fifty day simple moving average of $34.41 and a two-hundred day simple moving average of $30.32. The firm has a market cap of $1.48 billion, a PE ratio of -39.10 and a beta of 7.15.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings results 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). As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds have recently bought and sold shares of the stock. North Capital Inc. purchased a new position in shares of Nano Nuclear Energy in the first quarter worth about $26,000. Marshall Investment Management LLC purchased a new position in shares of Nano Nuclear Energy in the first quarter worth $27,000. Ameriflex Group Inc. purchased a new stake in Nano Nuclear Energy during the 4th quarter valued at $29,000. KBC Group NV bought a new stake in Nano Nuclear Energy in the 1st quarter worth $31,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $30,000.

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.

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