Nano Nuclear Energy (NASDAQ:NNE) Sees Strong Trading Volume – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) saw unusually-strong trading volume on Tuesday . Approximately 3,109,815 shares were traded during trading, a decline of 16% from the previous session’s volume of 3,687,637 shares.The stock last traded at $34.91 and had previously closed at $35.86.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Monday, March 31st.

Nano Nuclear Energy Price Performance

The stock has a fifty day moving average of $25.06 and a 200 day moving average of $27.32. The firm has a market capitalization of $1.24 billion and a P/E ratio of -81.04.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.46). Equities analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently bought and sold shares of NNE. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $774,000. Newbridge Financial Services Group Inc. purchased a new position in Nano Nuclear Energy in the 4th quarter worth approximately $200,000. Canal Insurance CO purchased a new position in Nano Nuclear Energy in the 4th quarter worth approximately $622,000. LPL Financial LLC bought a new position in shares of Nano Nuclear Energy in the 4th quarter worth $2,596,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at $1,036,000.

About Nano Nuclear Energy

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.