Nano Nuclear Energy (NASDAQ:NNE) Trading Up 2% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 2% during trading on Friday . The stock traded as high as $39.25 and last traded at $39.18. 2,607,056 shares were traded during mid-day trading, a decline of 33% from the average session volume of 3,866,507 shares. The stock had previously closed at $38.43.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BTIG Research initiated coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They set a “neutral” rating for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Friday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They set a “buy” rating and a $51.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Nano Nuclear Energy Price Performance

The company has a fifty day simple moving average of $41.75 and a 200-day simple moving average of $35.19. The company has a market cap of $1.97 billion, a P/E ratio of -42.13 and a beta of 6.80.

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

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently bought and sold shares of NNE. Vanguard Group Inc. increased its position in shares of Nano Nuclear Energy by 40.9% in the third quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock worth $68,547,000 after acquiring an additional 516,129 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Nano Nuclear Energy in the 2nd quarter worth approximately $31,935,000. Geode Capital Management LLC grew its position in Nano Nuclear Energy by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 349,104 shares of the company’s stock worth $12,039,000 after purchasing an additional 20,899 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Nano Nuclear Energy by 64.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 298,163 shares of the company’s stock valued at $11,497,000 after purchasing an additional 116,387 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of Nano Nuclear Energy by 30.7% in the first quarter. LPL Financial LLC now owns 136,270 shares of the company’s stock valued at $3,606,000 after purchasing an additional 31,992 shares in the last quarter.

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.