Traders Buy High Volume of Call Options on Nano Nuclear Energy (NASDAQ:NNE)

Nano Nuclear Energy Inc. (NASDAQ:NNE) was the target of unusually large options trading activity on Monday. Investors purchased 15,758 call options on the stock. This represents an increase of approximately 73% compared to the typical daily volume of 9,097 call options.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC bought a new position in Nano Nuclear Energy during the third quarter worth about $76,000. Commonwealth Equity Services LLC bought a new position in Nano Nuclear Energy during the 2nd quarter worth approximately $250,000. XTX Topco Ltd acquired a new position in Nano Nuclear Energy during the third quarter valued at approximately $305,000. State Street Corp bought a new stake in Nano Nuclear Energy in the third quarter valued at approximately $718,000. Finally, Virtu Financial LLC acquired a new stake in Nano Nuclear Energy in the third quarter worth $933,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. HC Wainwright assumed coverage on shares of Nano Nuclear Energy in a research note on Wednesday, October 30th. They set a “buy” rating and a $50.00 price objective on the stock. Benchmark lifted their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Stock Performance

Shares of Nano Nuclear Energy stock traded down $5.60 on Monday, hitting $28.00. 6,492,344 shares of the company’s stock traded hands, compared to its average volume of 3,237,472. The firm’s 50-day moving average price is $19.06 and its two-hundred day moving average price is $14.60. Nano Nuclear Energy has a one year low of $3.25 and a one year high of $37.51.

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.