Nano Nuclear Energy (NASDAQ:NNE) Trading 9.5% Higher Following Better-Than-Expected Earnings

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded up 9.5% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $33.25 and last traded at $33.0950. 1,420,506 shares traded hands during trading, a decline of 61% from the average session volume of 3,606,864 shares. The stock had previously closed at $30.23.

The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.14.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NNE shares. Benchmark reiterated a “buy” rating on shares of Nano Nuclear Energy in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. Finally, BTIG Research assumed coverage on shares of Nano Nuclear Energy in a research report on Thursday, August 28th. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.00.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Nano Nuclear Energy by 51.9% in the third quarter. US Bancorp DE now owns 1,171 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. Rothschild Investment LLC lifted its holdings in Nano Nuclear Energy by 9.3% during the 2nd quarter. Rothschild Investment LLC now owns 6,655 shares of the company’s stock worth $230,000 after buying an additional 565 shares in the last quarter. CWM LLC boosted its position in Nano Nuclear Energy by 17.7% in the 3rd quarter. CWM LLC now owns 3,837 shares of the company’s stock valued at $148,000 after buying an additional 576 shares during the last quarter. Swiss National Bank increased its stake in shares of Nano Nuclear Energy by 1.2% in the 3rd quarter. Swiss National Bank now owns 60,300 shares of the company’s stock valued at $2,325,000 after buying an additional 700 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Nano Nuclear Energy by 8.6% in the 3rd quarter. Arizona State Retirement System now owns 9,179 shares of the company’s stock valued at $354,000 after buying an additional 727 shares during the period.

Nano Nuclear Energy Stock Up 9.3%

The company has a market cap of $1.66 billion, a P/E ratio of -31.76 and a beta of 7.17. The business has a 50-day moving average price of $38.13 and a two-hundred day moving average price of $36.77.

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.