Nano Nuclear Energy (NASDAQ:NNE) Trading Up 8.5% on Analyst Upgrade

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price rose 8.5% during mid-day trading on Thursday after Benchmark raised their price target on the stock from $39.00 to $66.00. Benchmark currently has a buy rating on the stock. Nano Nuclear Energy traded as high as $20.88 and last traded at $20.67. Approximately 1,814,614 shares traded hands during trading, a decline of 39% from the average daily volume of 2,983,300 shares. The stock had previously closed at $19.05.

Separately, HC Wainwright initiated coverage on Nano Nuclear Energy in a report on Wednesday, October 30th. They issued a “buy” rating and a $50.00 target price on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nano Nuclear Energy stock. Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,665 shares of the company’s stock, valued at approximately $250,000.

Nano Nuclear Energy Stock Up 5.2 %

The firm’s 50 day moving average price is $16.03.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter. On average, equities analysts predict that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

About Nano Nuclear Energy

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.