Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 15.6% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price shot up 15.6% during trading on Wednesday . The stock traded as high as $28.75 and last traded at $29.48. 1,747,131 shares changed hands during trading, a decline of 72% from the average session volume of 6,260,439 shares. The stock had previously closed at $25.50.

Analyst Upgrades and Downgrades

NNE has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark lifted their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Trading Up 17.2 %

The firm’s 50-day simple moving average is $30.24 and its 200 day simple moving average is $22.16. The stock has a market cap of $1.11 billion and a P/E ratio of -73.09.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. On average, analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Nano Nuclear Energy by 19.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock worth $52,000 after purchasing an additional 331 shares during the last quarter. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy during the 4th quarter valued at about $29,000. New York State Common Retirement Fund bought a new position in Nano Nuclear Energy in the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $30,000. Finally, IFP Advisors Inc boosted its position in shares of Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after purchasing an additional 1,277 shares during the last quarter.

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.