Nano Nuclear Energy (NASDAQ:NNE) Trading 9.6% Higher - Should You Buy?

Key Points

• Nano Nuclear Energy's stock price increased by 9.6%, reaching $45.71 during mid-day trading, despite a decline in trading volume by 46% compared to its average.
• Several analysts have upgraded their ratings for Nano Nuclear Energy, with a consensus of "Moderate Buy" and an average target price of $51.75.
• The company recently reported earnings per share of ($0.19), surpassing expectations by $0.08, while analysts predict a -0.92 EPS for the current year.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price traded up 9.6% during mid-day trading on Friday . The company traded as high as $45.50 and last traded at $45.71. 2,018,940 shares were traded during mid-day trading, a decline of 46% from the average session volume of 3,706,580 shares. The stock had previously closed at $41.69.

Analysts Set New Price Targets

Several equities research analysts have commented on NNE shares. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. LADENBURG THALM/SH SH assumed coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They issued a "buy" rating and a $51.00 target price for the company. Northland Securities began coverage on shares of Nano Nuclear Energy in a research report on Monday, July 7th. They set an "outperform" rating and a $40.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Friday, August 15th. Finally, BTIG Research began coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nano Nuclear Energy has a consensus rating of "Moderate Buy" and an average target price of $51.75.

Nano Nuclear Energy Price Performance

The company's fifty day simple moving average is $35.75 and its 200 day simple moving average is $31.49.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. North Capital Inc. acquired a new stake in shares of Nano Nuclear Energy in the 1st quarter valued at approximately $26,000. Marshall Investment Management LLC acquired a new position in shares of Nano Nuclear Energy during the first quarter worth $27,000. KBC Group NV bought a new position in shares of Nano Nuclear Energy in the 1st quarter valued at $31,000. Stone House Investment Management LLC acquired a new stake in shares of Nano Nuclear Energy during the 1st quarter valued at $40,000. Finally, Total Investment Management Inc. bought a new stake in Nano Nuclear Energy during the 2nd quarter worth $60,000.

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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