Nano Nuclear Energy (NASDAQ:NNE) Shares Up 9.7% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares shot up 9.7% on Friday . The company traded as high as $26.64 and last traded at $26.24. 1,652,600 shares were traded during trading, an increase of 1% from the average session volume of 1,637,897 shares. The stock had previously closed at $23.93.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NNE shares. Benchmark boosted their price objective on shares of 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 reiterated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The business has a 50-day moving average price of $24.49 and a 200-day moving average price of $18.70.

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

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI lifted its holdings in 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 worth $10,505,000 after buying an additional 643,000 shares during the period. Geode Capital Management LLC bought a new position in shares of Nano Nuclear Energy in the 3rd quarter worth $954,000. Virtu Financial LLC purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth $933,000. State Street Corp bought a new stake in Nano Nuclear Energy during the third quarter valued at about $718,000. Finally, XTX Topco Ltd bought a new stake in Nano Nuclear Energy during the third quarter valued at about $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.