Nano Nuclear Energy Inc. (NASDAQ:NNE) Sees Significant Growth in Short Interest

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 6,550,000 shares, a growth of 35.6% from the May 15th total of 4,830,000 shares. Based on an average daily trading volume, of 2,590,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 26.9% of the shares of the company are sold short.

Nano Nuclear Energy Trading Up 11.2%

NNE traded up $3.75 during midday trading on Wednesday, reaching $37.24. The company's stock had a trading volume of 2,725,032 shares, compared to its average volume of 3,924,387. The stock has a market cap of $1.54 billion and a P/E ratio of -40.84. The company has a fifty day simple moving average of $26.63 and a 200 day simple moving average of $27.99. Nano Nuclear Energy has a twelve month low of $6.30 and a twelve month high of $48.05.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.46). Sell-side analysts expect that Nano Nuclear Energy will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

Institutional investors have recently modified their holdings of the company. North Capital Inc. acquired a new stake in shares of Nano Nuclear Energy during the 1st quarter worth approximately $26,000. Marshall Investment Management LLC acquired a new stake in shares of Nano Nuclear Energy during the 1st quarter worth approximately $27,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $29,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $30,000. Finally, New York State Common Retirement Fund bought a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Monday, March 31st.

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.