Nano Nuclear Energy (NASDAQ:NNE) Shares Up 9.6% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded up 9.6% on Friday . The stock traded as high as $45.50 and last traded at $45.71. 2,018,940 shares were traded during mid-day trading, a decline of 46% from the average session volume of 3,706,580 shares. The stock had previously closed at $41.69.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Saturday, September 27th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Friday, August 15th. LADENBURG THALM/SH SH began coverage on Nano Nuclear Energy in a research report on Thursday, July 10th. They set a “buy” rating and a $51.00 price target on the stock. Northland Securities began coverage on Nano Nuclear Energy in a research report on Monday, July 7th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Northland Capmk upgraded Nano Nuclear Energy to a “strong-buy” rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nano Nuclear Energy presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Nano Nuclear Energy Stock Up 6.7%

The firm has a 50 day simple moving average of $35.80 and a two-hundred day simple moving average of $31.59. The stock has a market capitalization of $1.85 billion, a P/E ratio of -47.84 and a beta of 6.80.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. On average, research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNE. Charles Schwab Investment Management Inc. increased its holdings in shares of Nano Nuclear Energy by 445.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 59,291 shares of the company’s stock worth $1,569,000 after buying an additional 48,424 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Nano Nuclear Energy by 113.8% during the first quarter. SG Americas Securities LLC now owns 29,586 shares of the company’s stock valued at $783,000 after purchasing an additional 15,747 shares in the last quarter. Swiss National Bank acquired a new stake in shares of Nano Nuclear Energy during the first quarter valued at about $1,220,000. New York State Common Retirement Fund raised its holdings in Nano Nuclear Energy by 533.3% in the 1st quarter. New York State Common Retirement Fund now owns 7,600 shares of the company’s stock valued at $201,000 after buying an additional 6,400 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Nano Nuclear Energy by 43.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 60,103 shares of the company’s stock valued at $1,590,000 after buying an additional 18,188 shares during the last quarter.

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.