Short Interest in Nano Nuclear Energy Inc. (NASDAQ:NNE) Increases By 35.6%

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was the target of a significant increase in short interest in May. As of May 31st, there was short interest totalling 6,550,000 shares, an increase 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. Approximately 26.9% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Price Performance

NNE stock traded down $0.66 during mid-day trading on Friday, reaching $37.31. The company had a trading volume of 8,739,713 shares, compared to its average volume of 3,927,776. The company has a market capitalization of $1.55 billion and a price-to-earnings ratio of -41.00. Nano Nuclear Energy has a 52 week low of $6.30 and a 52 week high of $48.05. The stock has a 50 day simple moving average of $27.20 and a two-hundred day simple moving average of $28.12.

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 for the quarter, missing the consensus estimate of ($0.11) by ($0.46). On average, equities analysts predict that Nano Nuclear Energy will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NNE. North Capital Inc. bought a new position in Nano Nuclear Energy during the first quarter worth about $26,000. Marshall Investment Management LLC acquired a new stake in shares of Nano Nuclear Energy in the first quarter valued at approximately $27,000. Ameriflex Group Inc. acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd acquired 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 stake in Nano Nuclear Energy in the 4th quarter valued at $30,000.

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.