IFP Advisors Inc Grows Stake in Nano Nuclear Energy Inc. (NASDAQ:NNE)

IFP Advisors Inc grew its position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) by 638.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,477 shares of the company’s stock after purchasing an additional 1,277 shares during the period. IFP Advisors Inc’s holdings in Nano Nuclear Energy were worth $37,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI grew its position in Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares in the last quarter. Van ECK Associates Corp purchased a new position in Nano Nuclear Energy in the fourth quarter worth $11,311,000. Perigon Wealth Management LLC purchased a new position in Nano Nuclear Energy in the fourth quarter worth $2,564,000. Geode Capital Management LLC purchased a new position in Nano Nuclear Energy in the third quarter worth $954,000. Finally, Virtu Financial LLC purchased a new position in Nano Nuclear Energy in the third quarter worth $933,000.

Wall Street Analysts Forecast Growth

NNE has been the subject of several research reports. Benchmark upped their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 6.3 %

NASDAQ NNE opened at $26.97 on Friday. The company has a 50-day simple moving average of $30.47 and a two-hundred day simple moving average of $22.94. Nano Nuclear Energy Inc. has a 12-month low of $3.25 and a 12-month high of $48.05. The firm has a market cap of $999.78 million and a price-to-earnings ratio of -65.78.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. Equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

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.