Nano Nuclear Energy (NASDAQ:NNE) Trading Up 2.2% - Here's What Happened

Key Points

• Nano Nuclear Energy Inc. shares rose 2.2% to $46.35, with 3,444,609 shares traded during mid-day, which is 8% below the average daily volume.
• Equities analysts generally maintain a positive outlook on Nano Nuclear Energy, with a consensus rating of "Buy" and a price target of $51.75, including a recent "buy" rating from HC Wainwright.
• The company reported an EPS of ($0.19) for the last quarter, exceeding expectations, while analysts forecast an EPS of (-0.92) for the current year.

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) were up 2.2% during mid-day trading on Tuesday . The company traded as high as $46.42 and last traded at $46.35. Approximately 3,444,609 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 3,762,381 shares. The stock had previously closed at $45.37.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NNE shares. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Friday, August 15th. 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 price target on the stock. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. LADENBURG THALM/SH SH initiated coverage on Nano Nuclear Energy in a research report on Thursday, July 10th. They issued a "buy" rating and a $51.00 target price on the stock. Finally, BTIG Research initiated coverage on Nano Nuclear Energy in a report on Thursday, August 28th. They set a "neutral" rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $51.75.

Nano Nuclear Energy Trading Up 2.2%

The stock's 50-day simple moving average is $35.02 and its 200-day simple moving average is $30.82. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -49.84 and a beta of 7.06.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. North Capital Inc. bought a new stake in shares of Nano Nuclear Energy during the 1st quarter worth approximately $26,000. Marshall Investment Management LLC bought a new stake in Nano Nuclear Energy during the first quarter worth $27,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy in the 4th quarter valued at $29,000. KBC Group NV bought a new position in shares of Nano Nuclear Energy in the 1st quarter valued at $31,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Nano Nuclear Energy during the 1st quarter worth $40,000.

About Nano Nuclear Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.