Nano Nuclear Energy (NASDAQ:NNE) Shares Up 12.4% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares shot up 12.4% on Monday . The stock traded as high as $30.60 and last traded at $30.36. 2,840,810 shares traded hands during trading, an increase of 1% from the average session volume of 2,820,145 shares. The stock had previously closed at $27.01.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NNE. Benchmark raised their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Stock Down 11.2 %

The firm has a fifty day simple moving average of $24.89 and a two-hundred day simple moving average of $18.98.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. As a group, equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at about $25,000. Barclays PLC purchased a new stake in Nano Nuclear Energy in the third quarter worth approximately $76,000. Fulton Bank N.A. bought a new position in Nano Nuclear Energy during the fourth quarter valued at approximately $213,000. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy during the second quarter worth approximately $250,000. Finally, XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy during the third quarter worth approximately $305,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.