Van ECK Associates Corp Invests $11.31 Million in Nano Nuclear Energy Inc. (NASDAQ:NNE)

Van ECK Associates Corp acquired a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 454,353 shares of the company’s stock, valued at approximately $11,311,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in shares of Nano Nuclear Energy during the third quarter worth approximately $25,000. Barclays PLC bought a new position in Nano Nuclear Energy during the third quarter worth $76,000. Newbridge Financial Services Group Inc. acquired a new position in Nano Nuclear Energy during the 4th quarter valued at $200,000. Fulton Bank N.A. bought a new stake in Nano Nuclear Energy in the 4th quarter valued at $213,000. Finally, Financial Advocates Investment Management acquired a new stake in Nano Nuclear Energy in the 4th quarter worth $219,000.

Nano Nuclear Energy Price Performance

Shares of Nano Nuclear Energy stock opened at $32.49 on Friday. The company’s fifty day moving average price is $29.55 and its two-hundred day moving average price is $21.00. Nano Nuclear Energy Inc. has a 52-week low of $3.25 and a 52-week high of $48.05.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. As a group, research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NNE shares. Benchmark increased their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

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.