Nano Nuclear Energy (NASDAQ:NNE) Trading Up 5.1% - Time to Buy?

Key Points

• Nano Nuclear Energy Inc. (NASDAQ:NNE) saw its share price increase by 5.1%, reaching a high of $38.18, although trading volume decreased by 52% from its average.
• A consensus of analysts gives NNE a "Buy" rating with an average target price of $51.75, indicating positive expectations for the stock's future performance.
• The company reported a quarterly loss of ($0.57) EPS, significantly below the consensus estimate, leading analysts to anticipate a yearly EPS of -0.92.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price traded up 5.1% during mid-day trading on Wednesday . The stock traded as high as $38.18 and last traded at $37.26. 1,868,808 shares were traded during mid-day trading, a decline of 52% from the average session volume of 3,899,801 shares. The stock had previously closed at $35.45.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Trading Down 0.3%

The business has a 50 day moving average of $34.08 and a 200-day moving average of $29.99. The firm has a market capitalization of $1.47 billion, a P/E ratio of -39.43 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.46). On average, analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. North Capital Inc. bought a new position in shares of Nano Nuclear Energy in the first quarter worth $26,000. Marshall Investment Management LLC bought a new position in shares of Nano Nuclear Energy in the first quarter worth $27,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy in the fourth quarter worth $29,000. Aster Capital Management DIFC Ltd bought a new position in Nano Nuclear Energy in the fourth quarter valued at about $30,000. Finally, KBC Group NV bought a new position in Nano Nuclear Energy in the first quarter valued at about $31,000.

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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