Nano Nuclear Energy (NASDAQ:NNE) Trading 7.2% Higher – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded up 7.2% on Tuesday . The company traded as high as $33.65 and last traded at $33.80. 267,263 shares traded hands during trading, a decline of 93% from the average session volume of 3,718,047 shares. The stock had previously closed at $31.53.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. Finally, BTIG Research started coverage on Nano Nuclear Energy in a research note on Thursday, August 28th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Nano Nuclear Energy Stock Performance

The business’s 50 day moving average is $41.01 and its two-hundred day moving average is $36.47. The firm has a market capitalization of $1.69 billion, a PE ratio of -36.09 and a beta of 7.19.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NNE. Archer Investment Corp bought a new position in Nano Nuclear Energy in the 3rd quarter worth about $39,000. Stone House Investment Management LLC purchased a new stake in shares of Nano Nuclear Energy in the first quarter worth about $40,000. Tripletail Wealth Management LLC purchased a new position in Nano Nuclear Energy during the third quarter valued at approximately $43,000. US Bancorp DE increased its holdings in Nano Nuclear Energy by 51.9% during the 3rd quarter. US Bancorp DE now owns 1,171 shares of the company’s stock worth $45,000 after acquiring an additional 400 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Nano Nuclear Energy during the 3rd quarter worth approximately $48,000.

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.