Nano Nuclear Energy (NASDAQ:NNE) Trading 17.5% Higher – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price shot up 17.5% on Thursday . The stock traded as high as $43.70 and last traded at $42.83. 7,076,739 shares were traded during trading, an increase of 27% from the average session volume of 5,589,519 shares. The stock had previously closed at $36.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark lifted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Trading Up 4.1 %

The stock has a fifty day moving average of $26.95 and a 200 day moving average of $19.40.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. Analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citizens Financial Group Inc. RI raised its holdings in shares of Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at $2,564,000. Geode Capital Management LLC purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $954,000. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy during the third quarter worth about $933,000. Finally, State Street Corp acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at $718,000.

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.