Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped up before the market opened on Tuesday . The stock had previously closed at $38.10, but opened at $39.60. Nano Nuclear Energy shares last traded at $37.24, with a volume of 1,846,132 shares changing hands.

Wall Street Analysts Forecast Growth

NNE has been the topic of several recent analyst reports. Benchmark upped their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The firm has a 50-day moving average of $28.17 and a 200-day moving average of $19.89.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. Research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NNE. Citizens Financial Group Inc. RI increased its stake in shares of Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares during the period. State Street Corp acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $718,000. XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $305,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $76,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $954,000.

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.