Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 6.1% - Should You Buy?

Key Points

• Nano Nuclear Energy's stock rose 6.1% to $50.32, with trading volume significantly down by 61% compared to its average daily volume.
• Recent analyst ratings include a "buy" from LADENBURG THALM/SH SH with a price target of $51, while Weiss Ratings issued a "sell" rating, reflecting mixed market sentiment.
• The company reported earnings of ($0.19) per share, surpassing analysts' expectations, and is forecasted to have an EPS of -0.92 for the fiscal year.

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) rose 6.1% on Friday . The stock traded as high as $50.15 and last traded at $50.32. Approximately 1,502,151 shares changed hands during trading, a decline of 61% from the average daily volume of 3,814,014 shares. The stock had previously closed at $47.41.

Analyst Upgrades and Downgrades

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

Nano Nuclear Energy Price Performance

The company's 50-day simple moving average is $37.00 and its 200-day simple moving average is $32.13. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -51.71 and a beta of 6.80.

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

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Nano Nuclear Energy by 44.4% during the first quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock worth $26,196,000 after buying an additional 304,405 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy during the second quarter worth approximately $31,935,000. Geode Capital Management LLC grew its position in shares of Nano Nuclear Energy by 6.4% during the second quarter. Geode Capital Management LLC now owns 349,104 shares of the company's stock worth $12,039,000 after buying an additional 20,899 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Nano Nuclear Energy during the second quarter worth approximately $6,269,000. Finally, LPL Financial LLC grew its position in shares of Nano Nuclear Energy by 30.7% during the first quarter. LPL Financial LLC now owns 136,270 shares of the company's stock worth $3,606,000 after buying an additional 31,992 shares in the last quarter.

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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