Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 5.6% – Here’s Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded up 5.6% on Monday . The stock traded as high as $26.00 and last traded at $24.71. 3,774,966 shares changed hands during trading, an increase of 12% from the average session volume of 3,357,008 shares. The stock had previously closed at $23.41.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NNE shares. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark lifted their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Trading Up 5.6 %

The firm has a 50-day simple moving average of $25.59 and a 200-day simple moving average of $18.98.

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

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently modified their holdings of NNE. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy during the 2nd quarter worth approximately $250,000. Citizens Financial Group Inc. RI grew 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 valued at $10,505,000 after purchasing an additional 643,000 shares in the last quarter. State Street Corp bought a new position in shares of Nano Nuclear Energy in the third quarter worth $718,000. XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth $305,000. Finally, Barclays PLC bought a new stake in Nano Nuclear Energy during the third quarter valued at $76,000.

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.