Nano Nuclear Energy (NASDAQ:NNE) Shares Up 10.4% After Analyst Upgrade

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was up 10.4% during trading on Friday 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 $24.00 and last traded at $23.96. Approximately 2,879,953 shares were traded during trading, a decline of 4% from the average daily volume of 3,005,796 shares. The stock had previously closed at $21.70.

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

Hedge Funds Weigh In On Nano Nuclear Energy

An institutional investor recently raised its position in Nano Nuclear Energy stock. Citizens Financial Group Inc. RI lifted its holdings in Nano Nuclear Energy Inc. (NASDAQ:NNE) by 747.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 729,000 shares of the company’s stock after purchasing an additional 643,000 shares during the quarter. Citizens Financial Group Inc. RI owned about 2.26% of Nano Nuclear Energy worth $10,505,000 as of its most recent SEC filing.

Nano Nuclear Energy Stock Up 5.2 %

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

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter. Equities research analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Nano Nuclear Energy Company Profile

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.