The stock of Nano Nuclear Energy Inc (NASDAQ: NNE) has decreased by -5.95 when compared to last closing price of 26.58.Despite this, the company has seen a loss of -10.71% in its stock price over the last five trading days. seekingalpha.com reported 2024-12-08 that NANO aims to launch its two microreactors, Zeus and Odin, by 2030-2031, with some earlier revenue expected from nuclear consulting, HALEU fuel transportation, and non-TRISO HALEU fuel production. I believe the 8x price surge since its IPO to $26.6 is purely speculative, making me quite cautious about potential profit-taking waves similar to the June-August pullback. I expect significant cash burn beyond the current $2.54M quarterly rate as the company develops its multiple business lines simultaneously, in addition to its R&D costs.
Is It Worth Investing in Nano Nuclear Energy Inc (NASDAQ: NNE) Right Now?
There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for NNE is 20.04M and currently, short sellers hold a 9.10% ratio of that float. The average trading volume of NNE on December 09, 2024 was 5.13M shares.
NNE’s Market Performance
NNE stock saw an increase of -10.71% in the past week, with a monthly gain of 15.22% and a quarterly increase of 184.44%. The volatility ratio for the week is 10.64%, and the volatility levels for the last 30 days are 14.23% for Nano Nuclear Energy Inc (NNE). The simple moving average for the past 20 days is -2.08% for NNE’s stock, with a 62.49% simple moving average for the past 200 days.
Analysts’ Opinion of NNE
Many brokerage firms have already submitted their reports for NNE stocks, with H.C. Wainwright repeating the rating for NNE by listing it as a “Buy.” The predicted price for NNE in the upcoming period, according to H.C. Wainwright is $50 based on the research report published on October 30, 2024 of the current year 2024.
NNE Trading at 15.20% from the 50-Day Moving Average
After a stumble in the market that brought NNE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -33.35% of loss for the given period.
Volatility was left at 14.23%, however, over the last 30 days, the volatility rate increased by 10.64%, as shares surge +9.11% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +66.11% upper at present.
During the last 5 trading sessions, NNE fell by -11.07%, in comparison to the 20-day moving average, which settled at $25.53. In addition, Nano Nuclear Energy Inc saw 381.74% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for NNE
The total capital return value is set at -0.6.
Currently, EBITDA for the company is 32994.0 with net debt to EBITDA at 2.12. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.93.
Conclusion
In conclusion, Nano Nuclear Energy Inc (NNE) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
