Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 0.3% – Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was up 0.3% on Wednesday . The stock traded as high as $25.36 and last traded at $24.90. Approximately 2,327,400 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 3,382,454 shares. The stock had previously closed at $24.83.

Wall Street Analysts Forecast Growth

NNE has been the subject of a number of recent analyst reports. Benchmark upped their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The company’s 50 day moving average price is $24.34 and its 200-day moving average price is $18.53.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. On average, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its holdings in shares of Nano Nuclear Energy by 747.7% during the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after purchasing an additional 643,000 shares during the period. Geode Capital Management LLC bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $954,000. Virtu Financial LLC acquired a new position in Nano Nuclear Energy during the 3rd quarter worth approximately $933,000. State Street Corp bought a new position in Nano Nuclear Energy in the third quarter worth approximately $718,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the third quarter valued at approximately $305,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.