Nano Nuclear Energy (NASDAQ:NNE) Shares Up 7.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price shot up 7.5% during trading on Wednesday . The stock traded as high as $25.17 and last traded at $24.96. 2,716,169 shares changed hands during trading, a decline of 11% from the average session volume of 3,059,173 shares. The stock had previously closed at $23.22.

Wall Street Analyst Weigh In

NNE has been the topic of several research reports. HC Wainwright started coverage on Nano Nuclear Energy in a research report on Wednesday, October 30th. They issued a “buy” rating and a $50.00 target price on the stock. Benchmark lifted their target price on shares of 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 Down 1.9 %

The stock has a 50 day moving average price of $16.85.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter. On average, analysts predict that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy Inc. (NASDAQ:NNE) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 10,665 shares of the company’s stock, valued at approximately $250,000.

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.