Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up - Here's What Happened

Key Points

• Nano Nuclear Energy Inc. shares experienced a significant jump, opening at $33.81 after a previous close of $32.61, and last traded at $33.88 with a volume of 381,390 shares.
• Analysts have mixed opinions on the stock, with LADENBURG THALM/SH SH downgrading it to a "sell" and setting a target price as low as $9.00, while others have set higher ratings with targets around $40 to $50.
• The company reported earnings of ($0.19) per share for the last quarter, beating the consensus estimate, and analysts predict a total EPS of -0.92 for the current year.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $32.61, but opened at $33.81. Nano Nuclear Energy shares last traded at $33.88, with a volume of 381,390 shares traded.

Analyst Ratings Changes

NNE has been the topic of several recent research reports. LADENBURG THALM/SH SH lowered Nano Nuclear Energy from a "buy" rating to a "sell" rating and reduced their price target for the stock from $51.00 to $9.00 in a research report on Monday, August 18th. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Friday, August 15th. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. BTIG Research initiated coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They set a "neutral" rating on the stock. Finally, Northland Securities initiated coverage on Nano Nuclear Energy in a research report on Monday, July 7th. They set an "outperform" rating and a $40.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three 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 has an average rating of "Moderate Buy" and a consensus target price of $41.25.

Nano Nuclear Energy Stock Performance

The stock has a market capitalization of $1.32 billion, a P/E ratio of -34.06 and a beta of 7.03. The stock has a 50-day moving average price of $34.48 and a two-hundred day moving average price of $30.16.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of large investors have recently made changes to their positions in NNE. Barclays PLC grew its position in shares of Nano Nuclear Energy by 27.6% in the 4th quarter. Barclays PLC now owns 6,767 shares of the company's stock worth $168,000 after buying an additional 1,463 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Nano Nuclear Energy by 29.8% in the 4th quarter. Northern Trust Corp now owns 25,682 shares of the company's stock valued at $639,000 after purchasing an additional 5,897 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Nano Nuclear Energy by 31.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 51,017 shares of the company's stock valued at $1,270,000 after purchasing an additional 12,060 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Nano Nuclear Energy by 15,411.5% in the 4th quarter. BNP Paribas Financial Markets now owns 104,082 shares of the company's stock valued at $2,591,000 after purchasing an additional 103,411 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $1,091,000.

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.