Nano Nuclear Energy (NASDAQ:NNE) Trading 4% Higher - Still a Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price shot up 4% during mid-day trading on Friday . The stock traded as high as $37.80 and last traded at $34.91. 4,587,201 shares traded hands during trading, a decline of 37% from the average session volume of 7,289,085 shares. The stock had previously closed at $33.56.

Analysts Set New Price Targets

Several brokerages have issued reports on NNE. Benchmark boosted 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 restated a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 0.5 %

The business has a fifty day moving average of $28.85 and a 200-day moving average of $20.42.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.08. As a group, research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in Nano Nuclear Energy by 52.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,294 shares of the company's stock worth $530,000 after buying an additional 7,328 shares during the period. Citizens Financial Group Inc. RI increased its position in shares of Nano Nuclear Energy by 23.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company's stock worth $22,406,000 after purchasing an additional 171,000 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth $271,000. SBI Securities Co. Ltd. acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth $66,000. Finally, Jones Financial Companies Lllp increased its position in shares of Nano Nuclear Energy by 674.6% during the fourth quarter. Jones Financial Companies Lllp now owns 9,683 shares of the company's stock worth $241,000 after purchasing an additional 8,433 shares in the last quarter.

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.