Hudson Bay Capital Management LP Makes New Investment in Nano Nuclear Energy Inc. (NASDAQ:NNE)

Hudson Bay Capital Management LP bought a new stake in Nano Nuclear Energy Inc. (NASDAQ:NNE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 833,334 shares of the company’s stock, valued at approximately $19,642,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $25,000. New York State Common Retirement Fund acquired a new position in shares of Nano Nuclear Energy in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter worth $30,000. IFP Advisors Inc boosted its position in Nano Nuclear Energy by 638.5% during the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after purchasing an additional 1,277 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Nano Nuclear Energy in the fourth quarter valued at about $66,000.

Nano Nuclear Energy Stock Up 2.5 %

Shares of NNE opened at $24.06 on Friday. The firm has a market cap of $891.98 million and a price-to-earnings ratio of -58.68. The company’s fifty day moving average is $25.13 and its 200-day moving average is $26.62. Nano Nuclear Energy Inc. has a 12 month low of $3.25 and a 12 month high of $48.05.

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

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research note on Monday, March 31st.

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.