Nano Nuclear Energy (NASDAQ:NNE) Trading Up 2.7% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was up 2.7% on Tuesday . The stock traded as high as $22.12 and last traded at $20.94. Approximately 1,828,086 shares changed hands during trading, a decline of 60% from the average daily volume of 4,583,621 shares. The stock had previously closed at $20.39.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NNE. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark increased their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The stock has a 50-day simple moving average of $25.52 and a 200 day simple moving average of $19.05.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.08. On average, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $718,000. Virtu Financial LLC acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth about $933,000. Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at about $954,000. Citizens Financial Group Inc. RI raised its position in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after acquiring an additional 643,000 shares during the period. Finally, XTX Topco Ltd bought a new position in Nano Nuclear Energy during the 3rd quarter worth approximately $305,000.

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.