Nano Nuclear Energy (NASDAQ:NNE) Trading Up 6.6% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) was up 6.6% during trading on Friday . The stock traded as high as $30.23 and last traded at $30.20. Approximately 936,130 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 3,849,463 shares. The stock had previously closed at $28.32.

Analyst Ratings Changes

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

Nano Nuclear Energy Stock Performance

The firm has a fifty day simple moving average of $30.74 and a 200-day simple moving average of $23.74. The firm has a market cap of $1.12 billion and a price-to-earnings ratio of -73.80.

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

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently modified their holdings of NNE. Citizens Financial Group Inc. RI lifted its holdings in shares of 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 worth $10,505,000 after buying an additional 643,000 shares in the last quarter. State Street Corp acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $718,000. XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $305,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $76,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $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.