Nano Nuclear Energy (NASDAQ:NNE) Shares Up 2.7% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 2.7% during mid-day trading on Wednesday . The stock traded as high as $31.17 and last traded at $30.94. Approximately 467,811 shares changed hands during trading, a decline of 88% from the average daily volume of 3,821,005 shares. The stock had previously closed at $30.12.

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 stock has a market capitalization of $1.12 billion and a P/E ratio of -73.57. The stock’s 50-day simple moving average is $30.87 and its 200 day simple moving average is $24.21.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results 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. As a group, analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy in the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nano Nuclear Energy during the fourth quarter valued at $30,000. IFP Advisors Inc lifted its holdings in shares of Nano Nuclear Energy by 638.5% during 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 period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Nano Nuclear Energy in the third quarter worth $25,000.

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.