Nano Nuclear Energy (NASDAQ:NNE) Shares Up 2% – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 2% during trading on Monday . The company traded as high as $31.66 and last traded at $30.87. 1,008,042 shares changed hands during trading, a decline of 74% from the average session volume of 3,842,021 shares. The stock had previously closed at $30.26.

Analysts Set New Price Targets

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

Nano Nuclear Energy Trading Up 1.3 %

The company has a fifty day simple moving average of $30.74 and a 200-day simple moving average of $23.83. The stock has a market cap of $1.14 billion and a price-to-earnings ratio of -74.84.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.09. As a group, analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently modified their holdings of NNE. Citizens Financial Group Inc. RI raised its stake in shares of Nano Nuclear Energy by 747.7% during the 3rd 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 position in Nano Nuclear Energy during the third quarter valued at approximately $718,000. XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the third quarter valued at approximately $305,000. Barclays PLC bought a new stake in Nano Nuclear Energy in the third quarter worth approximately $76,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth $954,000.

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.