Nano Nuclear Energy (NASDAQ:NNE) Trading 2.8% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. HC Wainwright assumed coverage on shares of Nano Nuclear Energy in a report on Wednesday, October 30th. They issued a “buy” rating and a $50.00 target price on the stock. Benchmark raised 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.

Nano Nuclear Energy Stock Performance

The stock’s 50 day simple moving average is $17.45.

Institutional Investors Weigh In On Nano Nuclear Energy

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

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.