Nano Nuclear Energy (NASDAQ:NNE) Trading 5% Higher - Still a Buy?

Key Points

• Nano Nuclear Energy Inc. saw its stock price increase by 5%, with shares trading at $37.38 after reaching a high of $38.85 during the day.
• Wall Street analysts have issued a consensus "Buy" rating for the stock, with price targets ranging from $40.00 to $51.00, indicating strong growth potential.
• The company missed earnings expectations, reporting a loss of ($0.57) earnings per share for the last quarter, significantly below the analysts' consensus estimate of ($0.11).

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price traded up 5% during mid-day trading on Tuesday . The company traded as high as $38.85 and last traded at $37.38. 1,849,404 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 3,908,106 shares. The stock had previously closed at $35.58.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Trading Up 6.6%

The firm's 50-day moving average price is $34.40 and its 200 day moving average price is $30.40. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -41.60 and a beta of 7.15.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.46). As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently made changes to their positions in NNE. North Capital Inc. bought a new position in shares of Nano Nuclear Energy in the first quarter valued at approximately $26,000. Marshall Investment Management LLC bought a new position in shares of Nano Nuclear Energy in the first quarter valued at approximately $27,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $29,000. KBC Group NV bought a new position in shares of Nano Nuclear Energy in the first quarter valued at approximately $31,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Nano Nuclear Energy during the fourth quarter valued at approximately $30,000.

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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