Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 7.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded up 7.5% during trading on Wednesday . The stock traded as high as $25.17 and last traded at $24.96. 2,716,169 shares were traded during trading, a decline of 11% from the average session volume of 3,059,173 shares. The stock had previously closed at $23.22.

Analyst Upgrades and Downgrades

NNE has been the topic of several recent analyst reports. Benchmark raised their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday, October 30th. They issued a “buy” rating and a $50.00 target price on the stock.

Nano Nuclear Energy Price Performance

The business has a 50 day moving average price of $16.56.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter. As a group, equities analysts predict that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

An institutional investor recently bought a new position in Nano Nuclear Energy stock. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,665 shares of the company’s stock, valued at approximately $250,000.

About Nano Nuclear Energy

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.