Nano Nuclear Energy (NASDAQ:NNE) Trading 4.6% Higher – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were up 4.6% on Wednesday . The stock traded as high as $40.68 and last traded at $36.39. Approximately 4,960,294 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 7,012,721 shares. The stock had previously closed at $34.79.

Wall Street Analyst Weigh In

NNE has been the topic of several analyst reports. Benchmark lifted their price target 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. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday.

Nano Nuclear Energy Stock Down 3.5 %

The business’s 50 day moving average is $27.83 and its 200-day moving average is $19.69.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.08. On average, analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI increased its holdings in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $11,311,000. Perigon Wealth Management LLC bought a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $2,564,000. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at approximately $954,000. Finally, Virtu Financial LLC bought a new stake in Nano Nuclear Energy during the 3rd quarter valued at $933,000.

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.