Nano Nuclear Energy (NASDAQ:NNE) Hits New 52-Week High – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $41.03 and last traded at $39.69, with a volume of 3078533 shares changing hands. The stock had previously closed at $36.45.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Stock Performance

The firm has a 50-day moving average price of $26.50 and a 200-day moving average price of $19.30.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly 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. Sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NNE. JPMorgan Chase & Co. purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at $25,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth approximately $76,000. Fulton Bank N.A. purchased a new stake in Nano Nuclear Energy in the 4th quarter worth approximately $213,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Nano Nuclear Energy in the fourth quarter worth $227,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy during the third quarter valued at $305,000.

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.