Nano Nuclear Energy (NASDAQ:NNE) Shares Up 7.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price shot up 7.5% during trading on Wednesday . The stock traded as high as $25.17 and last traded at $24.96. 2,716,169 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 3,059,173 shares. The stock had previously closed at $23.22.

Analyst Ratings Changes

Several analysts have recently issued reports on NNE shares. Benchmark increased their price objective on 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 initiated coverage on Nano Nuclear Energy in a research report on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price target on the stock.

Nano Nuclear Energy Trading Down 1.9 %

The firm’s 50-day moving average is $16.85.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter. On average, analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Citizens Financial Group Inc. RI bought a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 86,000 shares of the company’s stock, valued at approximately $2,016,000. Citizens Financial Group Inc. RI owned approximately 0.30% of Nano Nuclear Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.