Nano Nuclear Energy (NASDAQ:NNE) Releases Quarterly Earnings Results

Key Points

• Nano Nuclear Energy reported quarterly earnings of (-$0.19) per share, surpassing the consensus estimate of (-$0.27) by $0.08.
• The company's stock performance saw over 2.7 million shares traded, with shares currently priced at $35.89, compared to a fifty-two week low of $6.52 and high of $48.05.
• Several analysts have given the stock a "buy" rating, with a consensus price target of $51.75 following recent coverage initiations.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) announced its earnings results on Thursday. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08, Zacks reports.

Nano Nuclear Energy Stock Performance

NNE stock traded up $0.69 during midday trading on Friday, hitting $35.89. 2,739,683 shares of the stock were exchanged, compared to its average volume of 3,829,141. The stock's 50-day moving average price is $35.42 and its 200-day moving average price is $30.53. Nano Nuclear Energy has a fifty-two week low of $6.52 and a fifty-two week high of $48.05.

Hedge Funds Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in Nano Nuclear Energy by 385.8% during the first quarter. NewEdge Advisors LLC now owns 1,914 shares of the company's stock worth $51,000 after purchasing an additional 1,520 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Nano Nuclear Energy by 404.6% during the second quarter. Tower Research Capital LLC TRC now owns 5,011 shares of the company's stock worth $173,000 after buying an additional 4,018 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in Nano Nuclear Energy during the second quarter worth $221,000. FORA Capital LLC purchased a new position in Nano Nuclear Energy during the second quarter worth $311,000. Finally, Creative Planning purchased a new position in Nano Nuclear Energy during the second quarter worth $316,000.

Wall Street Analyst Weigh In

NNE has been the subject of several recent analyst reports. LADENBURG THALM/SH SH initiated coverage on Nano Nuclear Energy in a report on Thursday, July 10th. They issued a "buy" rating and a $51.00 price target for the company. Northland Securities initiated coverage on Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price target for the company. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Friday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $51.75.

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.

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