Nano Nuclear Energy (NASDAQ:NNE) Trading Up 0.8% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded up 0.8% during mid-day trading on Thursday . The company traded as high as $31.85 and last traded at $29.87. 2,235,407 shares changed hands during trading, a decline of 64% from the average session volume of 6,248,249 shares. The stock had previously closed at $29.64.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NNE. Benchmark raised their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Stock Up 4.5 %

The stock has a market capitalization of $1.07 billion and a price-to-earnings ratio of -70.22. The business’s 50 day simple moving average is $30.50 and its 200-day simple moving average is $22.39.

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

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Anson Funds Management LP acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at about $20,746,000. Hudson Bay Capital Management LP bought a new position in shares of Nano Nuclear Energy in the fourth quarter worth about $19,642,000. Vanguard Group Inc. boosted its stake in shares of Nano Nuclear Energy by 2,838.5% in the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock valued at $17,068,000 after purchasing an additional 662,287 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after purchasing an additional 643,000 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $11,311,000.

About Nano Nuclear Energy

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.