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

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $24.71, but opened at $26.63. Nano Nuclear Energy shares last traded at $27.06, with a volume of 1,021,951 shares trading hands.

Analysts Set New Price Targets

NNE has been the topic of a number of analyst reports. Benchmark increased their price objective 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 issued a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Price Performance

The firm has a 50-day simple moving average of $26.10 and a two-hundred day simple moving average of $19.14.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. Sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy during the second quarter worth about $250,000. Citizens Financial Group Inc. RI boosted its stake in Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares in the last quarter. State Street Corp bought a new stake in shares of Nano Nuclear Energy during the third quarter worth $718,000. XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at $305,000. Finally, Barclays PLC bought a new position in shares of Nano Nuclear Energy in the third quarter valued at about $76,000.

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.