Nano Nuclear Energy (NASDAQ:NNE) Trading 3.6% Higher – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded up 3.6% during trading on Wednesday . The company traded as high as $19.48 and last traded at $18.53. 1,244,275 shares changed hands during trading, a decline of 58% from the average session volume of 2,982,416 shares. The stock had previously closed at $17.89.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NNE. HC Wainwright initiated coverage on shares of Nano Nuclear Energy in a research note on Wednesday, October 30th. They set a “buy” rating and a $50.00 target price on the stock. Benchmark restated a “buy” rating and issued a $39.00 price objective on shares of Nano Nuclear Energy in a research report on Monday, July 15th.

Nano Nuclear Energy Stock Performance

The stock’s fifty day simple moving average is $15.56.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.17) EPS for the quarter. On average, equities analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

An institutional investor recently bought a new position in Nano Nuclear Energy stock. Commonwealth Equity Services LLC bought a new position in Nano Nuclear Energy Inc. (NASDAQ:NNE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,665 shares of the company’s stock, valued at approximately $250,000.

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.