Nano Nuclear Energy (NASDAQ:NNE) Trading 1.4% Higher – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were up 1.4% during mid-day trading on Thursday . The company traded as high as $25.10 and last traded at $23.41. Approximately 1,596,396 shares traded hands during trading, a decline of 48% from the average daily volume of 3,085,286 shares. The stock had previously closed at $23.09.

Analyst Upgrades and Downgrades

NNE has been the subject of several analyst reports. Benchmark raised their target price 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 began coverage on shares of Nano Nuclear Energy in a report on Wednesday, October 30th. They set a “buy” rating and a $50.00 target price on the stock.

Nano Nuclear Energy Stock Down 4.2 %

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

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter. On average, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC bought a new position in Nano Nuclear Energy in the third quarter valued at $76,000. Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy during the 2nd quarter valued at about $250,000. XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at about $305,000. State Street Corp bought a new stake in Nano Nuclear Energy in the 3rd quarter worth approximately $718,000. Finally, Geode Capital Management LLC purchased a new stake in Nano Nuclear Energy in 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.