Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 2.8% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price shot up 2.8% during mid-day trading on Monday . The company traded as high as $22.62 and last traded at $22.30. 904,560 shares were traded during mid-day trading, a decline of 71% from the average session volume of 3,082,585 shares. The stock had previously closed at $21.70.

Wall Street Analysts Forecast Growth

NNE has been the subject of several research reports. HC Wainwright assumed coverage on Nano Nuclear Energy in a research report on Wednesday, October 30th. They set a “buy” rating and a $50.00 price objective for the company. Benchmark lifted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The company’s fifty day moving average is $17.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC acquired a new stake in Nano Nuclear Energy in the third quarter worth about $76,000. Commonwealth Equity Services LLC bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth about $250,000. XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $305,000. State Street Corp acquired a new position in shares of Nano Nuclear Energy during the third quarter valued at approximately $718,000. Finally, Geode Capital Management LLC bought a new stake in Nano Nuclear Energy during the third quarter worth approximately $954,000.

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.