Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 7.2% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded up 7.2% during trading on Tuesday . The stock traded as high as $33.65 and last traded at $33.80. 267,263 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 3,718,047 shares. The stock had previously closed at $31.53.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NNE. BTIG Research began coverage on shares of Nano Nuclear Energy in a report on Thursday, August 28th. They issued a “neutral” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have given 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 company currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Trading Up 7.9%

The business’s fifty day moving average is $40.57 and its 200 day moving average is $36.49.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently modified their holdings of NNE. IFP Advisors Inc raised its holdings in Nano Nuclear Energy by 102.1% during the third quarter. IFP Advisors Inc now owns 8,342 shares of the company’s stock worth $322,000 after purchasing an additional 4,214 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Nano Nuclear Energy in the third quarter valued at $48,000. NewEdge Advisors LLC increased its position in shares of Nano Nuclear Energy by 6.5% in the third quarter. NewEdge Advisors LLC now owns 63,377 shares of the company’s stock valued at $2,444,000 after buying an additional 3,882 shares in the last quarter. Scientech Research LLC acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth $1,113,000. Finally, Prosperity Wealth Management Inc. acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth $332,000.

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.