Nano Nuclear Energy (NASDAQ:NNE) Shares Up 7% - What's Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares traded up 7% during mid-day trading on Wednesday . The stock traded as high as $36.33 and last traded at $35.84. 1,329,936 shares were traded during trading, a decline of 66% from the average session volume of 3,889,659 shares. The stock had previously closed at $33.49.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Monday, March 31st.

Nano Nuclear Energy Stock Performance

The firm has a fifty day simple moving average of $26.63 and a 200-day simple moving average of $27.99. The firm has a market cap of $1.52 billion and a price-to-earnings ratio of -40.27.

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

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in Nano Nuclear Energy by 376.9% during the 1st quarter. Rhumbline Advisers now owns 29,628 shares of the company's stock worth $784,000 after acquiring an additional 23,416 shares during the period. Optimize Financial Inc purchased a new stake in Nano Nuclear Energy in the first quarter worth about $217,000. NewEdge Advisors LLC boosted its stake 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 acquiring an additional 1,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Nano Nuclear Energy by 535.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,547 shares of the company's stock worth $385,000 after purchasing an additional 12,256 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Nano Nuclear Energy during the first quarter valued at $1,187,000.

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.

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