Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $38.10, but opened at $39.60. Nano Nuclear Energy shares last traded at $37.24, with a volume of 1,846,132 shares.

Analysts Set New Price Targets

A number of brokerages have commented on NNE. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark boosted their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Stock Down 4.6 %

The stock has a fifty day moving average price of $28.57 and a two-hundred day moving average price of $20.12.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. On average, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently modified their holdings of NNE. New York State Common Retirement Fund purchased a new stake in Nano Nuclear Energy in the fourth quarter worth $30,000. IFP Advisors Inc raised its stake in Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after acquiring an additional 1,277 shares during the period. JPMorgan Chase & Co. purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $25,000. Rhumbline Advisers boosted its position in Nano Nuclear Energy by 64.8% during the fourth quarter. Rhumbline Advisers now owns 6,212 shares of the company’s stock worth $155,000 after purchasing an additional 2,442 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Nano Nuclear Energy during the fourth quarter worth about $66,000.

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.