Nano Nuclear Energy (NASDAQ:NNE) Trading 8.5% Higher on Analyst Upgrade

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares shot up 8.5% during trading on Thursday after Benchmark raised their price target on the stock from $39.00 to $66.00. Benchmark currently has a buy rating on the stock. Nano Nuclear Energy traded as high as $20.88 and last traded at $20.67. 1,814,614 shares traded hands during trading, a decline of 39% from the average session volume of 2,983,300 shares. The stock had previously closed at $19.05.

Separately, HC Wainwright initiated coverage on Nano Nuclear Energy in a research note on Wednesday, October 30th. They set a “buy” rating and a $50.00 target price for the company.

Institutional Trading of Nano Nuclear Energy

An institutional investor recently bought a new position in Nano Nuclear Energy stock. Commonwealth Equity Services LLC acquired a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,665 shares of the company’s stock, valued at approximately $250,000.

Nano Nuclear Energy Stock Performance

The stock’s 50 day simple moving average is $15.56.

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

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.