Nano Nuclear Energy (NASDAQ:NNE) Trading Up 3.1% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price rose 3.1% during mid-day trading on Wednesday . The company traded as high as $27.32 and last traded at $26.83. Approximately 1,921,670 shares were traded during trading, a decline of 42% from the average daily volume of 3,292,594 shares. The stock had previously closed at $26.02.

Analysts Set New Price Targets

Several brokerages have weighed in on NNE. Benchmark upped their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday.

Nano Nuclear Energy Price Performance

The stock has a 50-day simple moving average of $19.57 and a 200 day simple moving average of $14.90.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI acquired a new stake in shares of Nano Nuclear Energy in the 2nd quarter valued at $2,016,000. Commonwealth Equity Services LLC acquired a new position in Nano Nuclear Energy in the 2nd quarter valued at approximately $250,000. Barclays PLC bought a new position in shares of Nano Nuclear Energy during the third quarter valued at $76,000. Geode Capital Management LLC acquired a new position in shares of Nano Nuclear Energy during the third quarter worth $954,000. Finally, State Street Corp acquired a new stake in Nano Nuclear Energy in the third quarter valued at $718,000.

About Nano Nuclear Energy

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.