Nano Nuclear Energy (NASDAQ:NNE) Trading Up 6.6% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shot up 6.6% during trading on Friday . The company traded as high as $30.23 and last traded at $30.20. 936,130 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 3,849,463 shares. The stock had previously closed at $28.32.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The stock has a market cap of $1.12 billion and a P/E ratio of -73.80. The stock has a 50-day simple moving average of $30.74 and a 200-day simple moving average of $23.74.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. As a group, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

Several hedge funds and other institutional investors have recently made changes to their positions in NNE. JPMorgan Chase & Co. bought a new stake in shares of Nano Nuclear Energy during the third quarter worth about $25,000. Ameriflex Group Inc. acquired a new position in shares of Nano Nuclear Energy in the fourth quarter worth approximately $29,000. New York State Common Retirement Fund acquired a new position in shares of Nano Nuclear Energy in the fourth quarter worth approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Nano Nuclear Energy in the fourth quarter worth approximately $30,000. Finally, IFP Advisors Inc lifted its stake in shares of Nano Nuclear Energy by 638.5% in the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after acquiring an additional 1,277 shares during the period.

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.