Nano Nuclear Energy (NASDAQ:NNE) Trading 10.4% Higher on Analyst Upgrade

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was up 10.4% during trading on Friday after Benchmark raised their price target on the stock from $39.00 to $66.00. Benchmark currently has a buy rating on the stock. Nano Nuclear Energy traded as high as $24.00 and last traded at $23.96. Approximately 2,879,953 shares changed hands during trading, a decline of 4% from the average daily volume of 3,005,796 shares. The stock had previously closed at $21.70.

Separately, HC Wainwright assumed coverage on shares of Nano Nuclear Energy in a research report on Wednesday, October 30th. They set a “buy” rating and a $50.00 target price on the stock.

Institutional Investors Weigh In On Nano Nuclear Energy

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,665 shares of the company’s stock, valued at approximately $250,000.

Nano Nuclear Energy Trading Up 6.3 %

The company has a 50 day simple moving average of $15.56.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter. Sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.