Nano Nuclear Energy (NASDAQ:NNE) Trading 7.4% Higher - Here's What Happened

Key Points

• Nano Nuclear Energy Inc. saw a stock price increase of 7.4%, closing at $35.49 after trading as high as $35.08.
• Analyst ratings are mixed, with reports indicating one Strong Buy, three Buy, one Hold, and one Sell rating, resulting in a consensus target price of $41.25.
• The company recently reported earnings of ($0.19) per share, surpassing consensus estimates and reflecting a potential for improved performance in the future.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price was up 7.4% during mid-day trading on Monday . The stock traded as high as $35.08 and last traded at $35.49. Approximately 1,436,713 shares traded hands during trading, a decline of 61% from the average daily volume of 3,689,155 shares. The stock had previously closed at $33.06.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NNE shares. LADENBURG THALM/SH SH downgraded Nano Nuclear Energy from a "buy" rating to a "sell" rating and dropped their target price 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 target price 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 started coverage on shares of Nano Nuclear Energy in a report on Thursday, August 28th. They issued a "neutral" rating on the stock. Finally, Northland Securities started coverage on shares of Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.25.

Nano Nuclear Energy Price Performance

The stock has a market cap of $1.93 billion, a P/E ratio of -49.80 and a beta of 7.03. The firm's fifty day moving average price is $34.83 and its two-hundred day moving average price is $30.65.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. On average, research analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. North Capital Inc. bought a new position in Nano Nuclear Energy in the first quarter valued at $26,000. Marshall Investment Management LLC bought a new position in shares of Nano Nuclear Energy during the first quarter valued at about $27,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy during the fourth quarter valued at about $29,000. KBC Group NV bought a new position in shares of Nano Nuclear Energy during the first quarter valued at about $31,000. Finally, Stone House Investment Management LLC bought a new position in shares of Nano Nuclear Energy during the first quarter valued at about $40,000.

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.