Nano Nuclear Energy Inc. (NASDAQ:NNE) Sees Large Growth in Short Interest

Nano Nuclear Energy Inc. (NASDAQ:NNE) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 11,180,000 shares, an increase of 51.3% from the September 30th total of 7,390,000 shares. Approximately 34.2% of the company’s shares are short sold. Based on an average trading volume of 4,060,000 shares, the short-interest ratio is currently 2.8 days. Based on an average trading volume of 4,060,000 shares, the short-interest ratio is currently 2.8 days. Approximately 34.2% of the company’s shares are short sold.

Institutional Trading of Nano Nuclear Energy

Hedge funds have recently made changes to their positions in the stock. North Capital Inc. acquired a new stake in shares of Nano Nuclear Energy during the first quarter worth approximately $26,000. Marshall Investment Management LLC acquired a new stake in shares of Nano Nuclear Energy during the first quarter worth approximately $27,000. KBC Group NV acquired a new stake in shares of Nano Nuclear Energy during the first quarter worth approximately $31,000. Archer Investment Corp acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth approximately $39,000. Finally, Stone House Investment Management LLC acquired a new position in Nano Nuclear Energy in the first quarter worth $40,000.

Nano Nuclear Energy Trading Down 4.8%

NASDAQ:NNE traded down $2.30 during trading hours on Monday, hitting $45.24. The stock had a trading volume of 2,866,768 shares, compared to its average volume of 3,895,524. Nano Nuclear Energy has a 1-year low of $16.58 and a 1-year high of $60.87. The business has a 50 day simple moving average of $40.99 and a two-hundred day simple moving average of $34.78. The company has a market cap of $2.27 billion, a PE ratio of -48.64 and a beta of 6.80.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Research analysts expect that Nano Nuclear Energy will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Nano Nuclear Energy in a report on Thursday, August 28th. They set a “neutral” rating on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Friday, August 15th. LADENBURG THALM/SH SH assumed coverage on shares of Nano Nuclear Energy in a report on Thursday, July 10th. They set a “buy” rating and a $51.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. Finally, Northland Securities assumed coverage on shares of Nano Nuclear Energy in a report on Monday, July 7th. They issued an “outperform” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.