Nano Nuclear Energy (NASDAQ:NNE) Trading 6.5% Higher – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price rose 6.5% during mid-day trading on Tuesday . The stock traded as high as $26.10 and last traded at $26.87. Approximately 630,340 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 3,874,860 shares. The stock had previously closed at $25.23.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Trading Up 1.9 %

The company has a fifty day moving average price of $30.59 and a two-hundred day moving average price of $23.48. The firm has a market cap of $1.05 billion and a P/E ratio of -69.07.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. As a group, sell-side 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 institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Nano Nuclear Energy in the fourth quarter valued at $29,000. New York State Common Retirement Fund bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in Nano Nuclear Energy in the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc raised its holdings in Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after acquiring an additional 1,277 shares during the period.

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.