Nano Nuclear Energy (NASDAQ:NNE) Trading 4.7% Higher – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded up 4.7% on Friday . The stock traded as high as $21.09 and last traded at $20.47. 1,480,661 shares traded hands during trading, a decline of 50% from the average session volume of 2,979,906 shares. The stock had previously closed at $19.56.

Analyst Upgrades and Downgrades

Several research firms have commented on NNE. HC Wainwright began coverage on Nano Nuclear Energy in a research report on Wednesday. They set a “buy” rating and a $50.00 price target on the stock. Benchmark reaffirmed a “buy” rating and set a $39.00 price target on shares of Nano Nuclear Energy in a research report on Monday, July 15th.

Nano Nuclear Energy Price Performance

The stock has a 50-day simple moving average of $14.94.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.17) EPS for the quarter.

Institutional Investors Weigh In On Nano Nuclear Energy

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Commonwealth Equity Services LLC bought a new position in Nano Nuclear Energy Inc. (NASDAQ:NNE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,665 shares of the company’s stock, valued at approximately $250,000.

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.