Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 6.7% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price rose 6.7% on Wednesday . The company traded as high as $23.50 and last traded at $22.81. Approximately 1,906,575 shares traded hands during trading, a decline of 58% from the average daily volume of 4,494,127 shares. The stock had previously closed at $21.38.

Analyst Ratings Changes

Several equities analysts have issued reports on NNE shares. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark raised their price target on shares of 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 Stock Performance

The company has a 50-day moving average of $25.55 and a 200 day moving average of $19.08.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $25,000. Barclays PLC purchased a new position in Nano Nuclear Energy during the third quarter worth approximately $76,000. Fulton Bank N.A. acquired a new position in Nano Nuclear Energy during the fourth quarter worth $213,000. Commonwealth Equity Services LLC purchased a new stake in Nano Nuclear Energy in the 2nd quarter valued at $250,000. Finally, XTX Topco Ltd purchased a new stake in Nano Nuclear Energy in the 3rd quarter valued at $305,000.

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.