Nano Nuclear Energy (NASDAQ:NNE) Trading 4.6% Higher – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) was up 4.6% during mid-day trading on Wednesday . The stock traded as high as $40.68 and last traded at $36.39. Approximately 4,960,294 shares changed hands during trading, a decline of 29% from the average daily volume of 7,012,721 shares. The stock had previously closed at $34.79.

Analysts Set New Price Targets

A number of research analysts recently commented on NNE shares. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday. Benchmark lifted 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 Stock Up 4.3 %

The company’s 50 day moving average price is $27.36 and its two-hundred day moving average price is $19.43.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. As a group, sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NNE. Citizens Financial Group Inc. RI boosted its holdings 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 valued at $10,505,000 after purchasing an additional 643,000 shares during the period. State Street Corp purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth $718,000. XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy during the 3rd quarter worth $305,000. Barclays PLC bought a new position in shares of Nano Nuclear Energy during the 3rd quarter worth $76,000. Finally, Geode Capital Management LLC purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at $954,000.

Nano Nuclear Energy Company Profile

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.