Read This First Before You Buy Nano Nuclear Energy Inc (NASDAQ: NNE) Stock

Nano Nuclear Energy Inc (NASDAQ:NNE) shares, rose in value on Tuesday, December 31, with the stock price up by 0.26% to the previous day’s close as strong demand from buyers drove the stock to $24.90.

Actively observing the price movement in the last trading, the stock closed the session at $24.83, falling within a range of $23.34 and $25.3638. Referring to stock’s 52-week performance, its high was $37.51, and the low was $3.25. On the whole, NNE has fluctuated by -9.83% over the past month.

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With the market capitalization of Nano Nuclear Energy Inc currently standing at about $821.54 million, investors are eagerly awaiting this quarter’s results, scheduled for in February.

Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 3.08M, with a low estimate of 300k and a high estimate of 300k. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 300k.

The stock’s technical analysis shows that the price of NNE currently trading nearly -2.80% and 3.63% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.86, while the 7-day volatility ratio is showing 9.85% which for the 30-day chart, stands at 11.51%. Furthermore, Nano Nuclear Energy Inc (NNE)’s average true range (ATR) is 3.03.

Data on historical trading for Nano Nuclear Energy Inc (NASDAQ:NNE) indicates that the trading volumes over the past 10 days have averaged 3.58 and over the past 3 months, they’ve averaged 5.07 million. According to company’s latest data on outstanding shares, there are 30.72 million shares outstanding.

Nearly 39.28% of Nano Nuclear Energy Inc’s shares belong to company insiders and institutional investors own 4.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.71 million shares as on 2024-12-13, resulting in a short ratio of 0.72. According to the data, the short interest in Nano Nuclear Energy Inc (NNE) stood at 1492.00 of shares outstanding as of 2024-12-13; the number of short shares registered in 2024-11-15 reached 1.82 million. The stock has risen by 379.67% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NNE stock heading into the next quarter.

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