Nano Nuclear Energy (NASDAQ:NNE) Trading 0.8% Higher – Here’s Why

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Benchmark boosted their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The firm has a market cap of $1.02 billion and a PE ratio of -67.20. The firm has a 50-day simple moving average of $30.36 and a 200 day simple moving average of $22.21.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. Sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in Nano Nuclear Energy during the 3rd quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter worth $29,000. New York State Common Retirement Fund purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nano Nuclear Energy during the fourth quarter valued at $30,000. Finally, IFP Advisors Inc raised its position in shares of Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after purchasing an additional 1,277 shares during the last quarter.

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.