Nano Nuclear Energy (NASDAQ:NNE) Trading Up 18% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price rose 18% during mid-day trading on Monday . The company traded as high as $36.89 and last traded at $35.98. Approximately 3,359,407 shares traded hands during trading, a decline of 13% from the average daily volume of 3,873,595 shares. The stock had previously closed at $30.50.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Monday, March 31st.

Nano Nuclear Energy Stock Performance

The company has a 50 day moving average of $26.21 and a 200 day moving average of $27.90. The stock has a market capitalization of $1.29 billion and a price-to-earnings ratio of -83.76.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.46). On average, equities analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently made changes to their positions in NNE. North Capital Inc. purchased a new stake in Nano Nuclear Energy in the 1st quarter valued at $26,000. Marshall Investment Management LLC purchased a new position in Nano Nuclear Energy during the first quarter worth about $27,000. Ameriflex Group Inc. acquired a new position in Nano Nuclear Energy in the 4th quarter valued at about $29,000. New York State Common Retirement Fund purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $30,000.

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.