Nano Nuclear Energy (NASDAQ:NNE) Trading 0.7% Higher - Here's Why

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price rose 0.7% on Monday . The company traded as high as $30.86 and last traded at $29.00. Approximately 1,216,975 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 6,112,148 shares. The stock had previously closed at $28.79.

Analyst Ratings Changes

NNE has been the subject of a number of research reports. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark upped their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Stock Down 6.3 %

The company has a market capitalization of $999.78 million and a PE ratio of -65.78. The stock's 50 day moving average is $30.47 and its two-hundred day moving average is $22.94.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.09. On average, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

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Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new position in Nano Nuclear Energy in the third quarter worth about $25,000. Ameriflex Group Inc. acquired a new position in shares of Nano Nuclear Energy during the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in shares of Nano Nuclear Energy during the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Nano Nuclear Energy during the fourth quarter valued at about $30,000. Finally, IFP Advisors Inc increased 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 valued at $37,000 after acquiring an additional 1,277 shares in the last quarter.

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.