Nano Nuclear Energy (NASDAQ:NNE) Trading 1.5% Higher – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 1.5% during mid-day trading on Friday . The stock traded as high as $33.62 and last traded at $33.45. 1,517,317 shares changed hands during trading, a decline of 60% from the average session volume of 3,819,389 shares. The stock had previously closed at $32.95.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Stock Up 1.5%

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -36.75 and a beta of 7.29. The company has a 50-day moving average price of $30.23 and a 200 day moving average price of $28.90.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.46). Equities analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Nano Nuclear Energy by 44.4% during the first quarter. Vanguard Group Inc. now owns 990,024 shares of the company’s stock valued at $26,196,000 after acquiring an additional 304,405 shares during the period. Citizens Financial Group Inc. RI increased its stake in Nano Nuclear Energy by 23.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company’s stock valued at $22,406,000 after acquiring an additional 171,000 shares during the period. Anson Funds Management LP bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $20,746,000. Hudson Bay Capital Management LP bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $19,642,000. Finally, Nuveen Asset Management LLC bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $4,544,000.

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.