Nano Nuclear Energy (NASDAQ:NNE) Shares Up 9.6% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares shot up 9.6% during trading on Friday . The stock traded as high as $45.50 and last traded at $45.71. 2,018,940 shares were traded during trading, a decline of 46% from the average session volume of 3,706,580 shares. The stock had previously closed at $41.69.

Analyst Upgrades and Downgrades

Several brokerages have commented on NNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Saturday, September 27th. BTIG Research began coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They set a “neutral” rating for the company. Northland Capmk raised shares of Nano Nuclear Energy to a “strong-buy” rating in a research report on Monday, July 7th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Friday, August 15th. Finally, Northland Securities assumed coverage on shares of Nano Nuclear Energy in a research report on Monday, July 7th. They set an “outperform” rating and a $40.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Nano Nuclear Energy Stock Up 6.7%

The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -47.84 and a beta of 6.80. The firm has a 50 day moving average of $35.80 and a 200 day moving average of $31.59.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. Equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

Large investors have recently made changes to their positions in the company. North Capital Inc. acquired a new stake in shares of Nano Nuclear Energy in the 1st quarter valued at about $26,000. Marshall Investment Management LLC bought a new position in Nano Nuclear Energy in the first quarter worth approximately $27,000. KBC Group NV bought a new position in Nano Nuclear Energy in the first quarter worth approximately $31,000. Stone House Investment Management LLC acquired a new position in shares of Nano Nuclear Energy during the first quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Nano Nuclear Energy during the first quarter worth approximately $51,000.

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.