Nano Nuclear Energy (NASDAQ:NNE) Shares Up 9.7% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was up 9.7% during trading on Friday . The company traded as high as $26.64 and last traded at $26.24. Approximately 1,652,600 shares were traded during trading, an increase of 1% from the average daily volume of 1,637,897 shares. The stock had previously closed at $23.93.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NNE. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark raised their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Trading Up 12.9 %

The firm’s 50-day moving average price is $24.49 and its 200-day moving average price is $18.70.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. As a group, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citizens Financial Group Inc. RI boosted its position 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 valued at $10,505,000 after buying an additional 643,000 shares during the period. Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $954,000. Virtu Financial LLC purchased a new position in Nano Nuclear Energy during the 3rd quarter valued at $933,000. State Street Corp bought a new position in Nano Nuclear Energy in the 3rd quarter valued at $718,000. Finally, XTX Topco Ltd bought a new position in Nano Nuclear Energy in the 3rd quarter valued at $305,000.

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.