Nano Nuclear Energy (NASDAQ:NNE) Trading Up 6.3% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 6.3% during mid-day trading on Monday . The stock traded as high as $32.24 and last traded at $32.08. Approximately 1,148,239 shares changed hands during trading, a decline of 77% from the average daily volume of 5,052,126 shares. The stock had previously closed at $30.19.

Wall Street Analyst Weigh In

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

Nano Nuclear Energy Price Performance

The business has a 50-day simple moving average of $31.42 and a two-hundred day simple moving average of $24.93. The stock has a market cap of $1.17 billion and a price-to-earnings ratio of -77.15.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NNE. Wealth Enhancement Advisory Services LLC acquired a new stake in Nano Nuclear Energy during the fourth quarter worth approximately $271,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Nano Nuclear Energy during the 4th quarter worth approximately $299,000. Ameriflex Group Inc. bought a new stake in Nano Nuclear Energy in the 4th quarter valued at $29,000. Nuveen Asset Management LLC bought a new stake in Nano Nuclear Energy in the 4th quarter valued at $4,544,000. Finally, Millennium Management LLC acquired a new position in Nano Nuclear Energy in the 4th quarter valued at $1,253,000.

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.