Nano Nuclear Energy Inc. (NASDAQ:NNE) Short Interest Up 30.0% in August

Key Points

• The short interest in Nano Nuclear Energy Inc. increased by 30.0% in August, with 8,020,000 shares sold short as of August 15th, representing 29.7% of the company's total shares.
• The company's stock traded up 1.5% on the day, reaching $32.35, and has a market capitalization of $1.34 billion.
• Nano Nuclear Energy reported earnings of ($0.19) per share, exceeding expectations, and analysts have set an average price target of $41.25 for the stock.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 8,020,000 shares, an increase of 30.0% from the July 31st total of 6,170,000 shares. Based on an average daily trading volume, of 4,090,000 shares, the short-interest ratio is currently 2.0 days. Approximately 29.7% of the shares of the company are short sold. Approximately 29.7% of the shares of the company are short sold. Based on an average daily trading volume, of 4,090,000 shares, the short-interest ratio is currently 2.0 days.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in Nano Nuclear Energy by 27.6% in the fourth quarter. Barclays PLC now owns 6,767 shares of the company's stock worth $168,000 after acquiring an additional 1,463 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Nano Nuclear Energy by 29.8% in the fourth quarter. Northern Trust Corp now owns 25,682 shares of the company's stock valued at $639,000 after purchasing an additional 5,897 shares during the period. BNP Paribas Financial Markets increased its position in shares of Nano Nuclear Energy by 15,411.5% during the 4th quarter. BNP Paribas Financial Markets now owns 104,082 shares of the company's stock worth $2,591,000 after purchasing an additional 103,411 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Nano Nuclear Energy during the fourth quarter worth about $1,091,000. Finally, Cetera Investment Advisers acquired a new stake in Nano Nuclear Energy in the 4th quarter valued at about $424,000.

Nano Nuclear Energy Trading Up 0.3%

NASDAQ:NNE traded up $0.10 during trading hours on Friday, reaching $33.06. 1,446,925 shares of the company traded hands, compared to its average volume of 2,446,028. Nano Nuclear Energy has a 1 year low of $10.35 and a 1 year high of $48.05. The business's 50-day moving average price is $34.39 and its two-hundred day moving average price is $30.29. The stock has a market capitalization of $1.38 billion, a P/E ratio of -35.55 and a beta of 7.03.

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 for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. As a group, equities analysts anticipate that Nano Nuclear Energy will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NNE shares. Northland Capmk raised shares of Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Friday, August 15th. LADENBURG THALM/SH SH cut shares of Nano Nuclear Energy from a "buy" rating to a "sell" rating and decreased their target price for the stock from $51.00 to $9.00 in a research note on Monday, August 18th. Northland Securities initiated coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They issued an "outperform" rating and a $40.00 price objective on the stock. Finally, BTIG Research started coverage on Nano Nuclear Energy in a research note on Thursday, August 28th. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Nano Nuclear Energy currently has an average rating of "Moderate Buy" and an average price target of $41.25.

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.