Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Up – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped up prior to trading on Wednesday . The stock had previously closed at $31.81, but opened at $33.08. Nano Nuclear Energy shares last traded at $33.6120, with a volume of 575,553 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NNE shares. BTIG Research began coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They set a “neutral” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Nano Nuclear Energy Stock Performance

The firm has a 50 day moving average price of $42.19 and a two-hundred day moving average price of $36.09. The company has a market cap of $1.66 billion, a P/E ratio of -35.34 and a beta of 6.80.

Institutional Trading of Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of NNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Nano Nuclear Energy by 11,676.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock valued at $66,564,000 after buying an additional 1,711,592 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Nano Nuclear Energy by 65.7% in the third quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after acquiring an additional 1,030,262 shares during the period. Hood River Capital Management LLC purchased a new position in shares of Nano Nuclear Energy in the second quarter valued at $31,935,000. Vanguard Group Inc. grew its position in shares of Nano Nuclear Energy by 40.9% in the third quarter. Vanguard Group Inc. now owns 1,777,684 shares of the company’s stock valued at $68,547,000 after purchasing an additional 516,129 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter valued at $6,269,000.

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.