Nano Nuclear Energy (NASDAQ:NNE) Trading 7.8% Higher - Here's What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) traded up 7.8% during trading on Wednesday . The stock traded as high as $36.87 and last traded at $36.91. 1,429,098 shares were traded during trading, a decline of 63% from the average session volume of 3,847,858 shares. The stock had previously closed at $34.25.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NNE. HC Wainwright restated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Monday, March 31st. Northland Capmk raised shares of Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. LADENBURG THALM/SH SH initiated coverage on shares of Nano Nuclear Energy in a research note on Thursday, July 10th. They set a "buy" rating and a $51.00 price objective for the company. Finally, Northland Securities initiated coverage on shares of Nano Nuclear Energy in a report on Monday, July 7th. They set an "outperform" rating and a $40.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Price Performance

The stock's 50-day moving average is $33.12 and its 200 day moving average is $29.70. The company has a market cap of $1.59 billion, a PE ratio of -42.12 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.46). On average, analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Nano Nuclear Energy by 40.0% during the 4th quarter. Bank of New York Mellon Corp now owns 19,077 shares of the company's stock valued at $475,000 after buying an additional 5,451 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Nano Nuclear Energy in the fourth quarter valued at $271,000. Commonwealth Equity Services LLC increased its holdings in Nano Nuclear Energy by 52.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,294 shares of the company's stock worth $530,000 after acquiring an additional 7,328 shares in the last quarter. LPL Financial LLC purchased a new stake in Nano Nuclear Energy in the 4th quarter worth $2,596,000. Finally, Vanguard Group Inc. raised its holdings in Nano Nuclear Energy by 2,838.5% in the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company's stock valued at $17,068,000 after acquiring an additional 662,287 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.