Nano Nuclear Energy (NASDAQ:NNE) Shares Up 3.1% – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NNE. Benchmark boosted their price objective on 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 reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday.

Nano Nuclear Energy Price Performance

The business has a fifty day moving average of $20.21 and a 200 day moving average of $15.06.

Hedge Funds Weigh In On Nano Nuclear Energy

Several large investors have recently modified their holdings of NNE. Citizens Financial Group Inc. RI increased its position in shares of Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter valued at about $954,000. Virtu Financial LLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter valued at about $933,000. State Street Corp purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at approximately $718,000. Finally, XTX Topco Ltd acquired a new position in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $305,000.

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.