Nano Nuclear Energy (NASDAQ:NNE) Shares Up 1.2% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were up 1.2% during trading on Wednesday . The stock traded as high as $29.82 and last traded at $27.85. Approximately 891,553 shares were traded during trading, a decline of 77% from the average daily volume of 3,868,571 shares. The stock had previously closed at $27.53.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Price Performance

The firm has a market capitalization of $1.05 billion and a price-to-earnings ratio of -69.04. The business’s fifty day simple moving average is $30.53 and its 200 day simple moving average is $23.45.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. Equities research analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI grew its holdings in Nano Nuclear Energy by 747.7% during 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 bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $718,000. XTX Topco Ltd purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $305,000. Barclays PLC bought a new position in Nano Nuclear Energy during the third quarter worth about $76,000. Finally, Geode Capital Management LLC purchased a new position in shares of Nano Nuclear Energy in the third quarter worth about $954,000.

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.