Nano Nuclear Energy (NASDAQ:NNE) Trading 1.2% Higher – Here’s Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 1.2% on Thursday . The stock traded as high as $31.99 and last traded at $31.63. Approximately 541,984 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,813,576 shares. The stock had previously closed at $31.26.

Analyst Ratings Changes

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

Nano Nuclear Energy Trading Down 2.7 %

The business has a 50-day simple moving average of $30.79 and a 200 day simple moving average of $24.16. The stock has a market cap of $1.13 billion and a P/E ratio of -73.84.

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

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Nano Nuclear Energy by 19.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock worth $52,000 after acquiring an additional 331 shares in the last quarter. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy during the 4th quarter valued at about $29,000. New York State Common Retirement Fund purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at about $30,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc boosted its holdings in 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 purchasing an additional 1,277 shares during the last quarter.

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.