Nano Nuclear Energy Inc (NASDAQ:NNE) shares are trading higher by 37.8% to $21.69 during Monday's session after the company announced it acquired annular linear induction pump intellectual property used in small nuclear reactor cooling and heat transfer.
Dr. Carlos O. Maidana will collaborate with NANO Nuclear as a consultant to further develop this technology, aiming for SBIR Phase III Award status. This project builds on over $1.37 million in previous Department of Energy grants, with NANO Nuclear committing approximately $350,000 in funding and resources. Dr. Maidana will serve as the Principal Investigator for the project.
Is NNE A Good Stock To Buy?
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Nano Nuclear Energy's page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Nano Nuclear Energy does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 19.77%, you'll need to buy a share of Dividend Gwth Split by the Jun. 28, 2024. Once done, you can expect to receive a nominal payout of $0.1 on Jul. 15, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Nano Nuclear Energy will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from Benzinga Pro, NNE has a 52-week high of $21.98 and a 52-week low of $3.25.