Nano Nuclear Energy (NASDAQ:NNE) Trading Up 4.6% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 4.6% during trading on Wednesday . The stock traded as high as $40.68 and last traded at $36.39. Approximately 4,960,294 shares changed hands during trading, a decline of 29% from the average daily volume of 7,012,721 shares. The stock had previously closed at $34.79.

Analyst Ratings Changes

NNE has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday. Benchmark raised their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Trading Down 3.5 %

The business’s 50-day simple moving average is $27.83 and its 200-day simple moving average is $19.69.

Nano Nuclear Energy (NASDAQ:NNE) last posted its 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. Equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds have recently made changes to their positions in the business. Citizens Financial Group Inc. RI boosted its holdings in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after purchasing an additional 643,000 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth $11,311,000. Perigon Wealth Management LLC acquired a new position in Nano Nuclear Energy in the fourth quarter valued at $2,564,000. Geode Capital Management LLC acquired a new position in Nano Nuclear Energy in the third quarter valued at $954,000. Finally, Virtu Financial LLC purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $933,000.

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.