Nano Nuclear Energy (NASDAQ:NNE) Shares Up 10.7% – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 10.7% during mid-day trading on Thursday . The stock traded as high as $41.98 and last traded at $40.45. 4,334,995 shares were traded during trading, a decline of 39% from the average session volume of 7,091,925 shares. The stock had previously closed at $36.54.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NNE. Benchmark increased their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday.

Nano Nuclear Energy Price Performance

The firm has a 50-day simple moving average of $27.62 and a two-hundred day simple moving average of $19.55.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. Equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI lifted its position in shares of Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after buying an additional 643,000 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Nano Nuclear Energy in the fourth quarter valued at $11,311,000. Perigon Wealth Management LLC acquired a new position in Nano Nuclear Energy in the fourth quarter valued at $2,564,000. Geode Capital Management LLC purchased a new position in shares of Nano Nuclear Energy during the third quarter worth about $954,000. Finally, Virtu Financial LLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth about $933,000.

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.