Nano Nuclear Energy (NASDAQ:NNE) Trading 4.1% Higher – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares shot up 4.1% during mid-day trading on Tuesday . The company traded as high as $23.83 and last traded at $23.62. 1,042,054 shares were traded during trading, a decline of 66% from the average session volume of 3,085,820 shares. The stock had previously closed at $22.69.

Analyst Ratings Changes

A number of equities analysts recently commented on NNE shares. HC Wainwright assumed coverage on Nano Nuclear Energy in a research note on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price objective on the stock. Benchmark boosted their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Stock Down 8.4 %

The company has a 50 day simple moving average of $18.33 and a 200-day simple moving average of $14.29.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently made changes to their positions in the stock. Citizens Financial Group Inc. RI bought a new position in shares of Nano Nuclear Energy in the 2nd quarter worth $2,016,000. Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy in the second quarter valued at $250,000. Barclays PLC acquired a new position in shares of Nano Nuclear Energy during the third quarter valued at about $76,000. Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy during the third quarter worth about $954,000. Finally, State Street Corp acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth about $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.