Nano Nuclear Energy (NASDAQ:NNE) Trading 4.4% Higher - What's Next?

Key Points

• Nano Nuclear Energy Inc. (NASDAQ:NNE) saw a stock increase of 4.4% during mid-day trading, reaching a last traded price of $44.34, after closing at $42.49.
• The average rating for NNE stock is "Moderate Buy", with target prices ranging from a sell rating at $40.00 to a buy rating with a target of $50.00.
• Institutional investors have recently shown strong interest, with Vanguard Group increasing its stake by 44.4%, now owning nearly 1 million shares valued at over $26 million.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was up 4.4% during mid-day trading on Friday . The stock traded as high as $45.68 and last traded at $44.34. Approximately 3,623,047 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 3,920,391 shares. The stock had previously closed at $42.49.

Wall Street Analyst Weigh In

NNE has been the subject of several recent research reports. BTIG Research initiated coverage on shares of Nano Nuclear Energy in a research report on Thursday, August 28th. They issued a "neutral" rating for the company. Northland Securities assumed coverage on shares of Nano Nuclear Energy in a research note on Monday, July 7th. They set an "outperform" rating and a $40.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Friday, August 15th. Northland Capmk upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Price Performance

The stock's 50 day moving average price is $39.23 and its two-hundred day moving average price is $33.60. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -47.68 and a beta of 6.80.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Nano Nuclear Energy by 44.4% during the first 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 during the period. Hood River Capital Management LLC bought a new position in Nano Nuclear Energy in the second quarter valued at about $31,935,000. Geode Capital Management LLC grew its holdings in shares of Nano Nuclear Energy by 6.4% during the second quarter. Geode Capital Management LLC now owns 349,104 shares of the company's stock worth $12,039,000 after purchasing an additional 20,899 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Nano Nuclear Energy by 64.0% during the third quarter. Exchange Traded Concepts LLC now owns 298,163 shares of the company's stock worth $11,497,000 after purchasing an additional 116,387 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Nano Nuclear Energy by 30.7% in the first quarter. LPL Financial LLC now owns 136,270 shares of the company's stock valued at $3,606,000 after acquiring an additional 31,992 shares during the last quarter.

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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