Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price rose 2.4% on Friday following a stronger than expected earnings report. The company traded as high as $37.07 and last traded at $36.06. Approximately 1,019,403 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 3,838,238 shares. The stock had previously closed at $35.20.
The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08.
Wall Street Analysts Forecast Growth
NNE has been the topic of several research reports. HC Wainwright restated a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Friday. Northland Securities started coverage on shares of Nano Nuclear Energy in a research note on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price for the company. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Finally, LADENBURG THALM/SH SH started coverage on shares of Nano Nuclear Energy in a research note on Thursday, July 10th. They set a "buy" rating and a $51.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $51.75.
Read Our Latest Analysis on NNE
Institutional Investors Weigh In On Nano Nuclear Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC acquired a new position in Nano Nuclear Energy in the second quarter valued at approximately $31,935,000. Hudson Bay Capital Management LP acquired a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $19,642,000. Anson Funds Management LP acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at about $20,746,000. Vanguard Group Inc. increased its stake in shares of Nano Nuclear Energy by 44.4% during the 1st quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock worth $26,196,000 after purchasing an additional 304,405 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in Nano Nuclear Energy in the 4th quarter worth approximately $4,544,000.
Nano Nuclear Energy Stock Performance
The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -38.59 and a beta of 7.15. The company's fifty day moving average is $35.42 and its two-hundred day moving average is $30.42.
About Nano Nuclear Energy
(
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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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