Nano Nuclear Energy (NASDAQ:NNE) Trading Up 5% – Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were up 5% during trading on Tuesday . The stock traded as high as $28.66 and last traded at $28.59. Approximately 1,639,759 shares traded hands during trading, a decline of 52% from the average daily volume of 3,384,241 shares. The stock had previously closed at $27.24.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NNE shares. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th. Benchmark boosted their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The stock has a 50-day simple moving average of $23.82 and a 200-day simple moving average of $17.85.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter valued at about $76,000. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy during the 2nd quarter worth approximately $250,000. XTX Topco Ltd acquired a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $305,000. State Street Corp bought a new position in shares of Nano Nuclear Energy during the third quarter valued at $718,000. Finally, Virtu Financial LLC acquired a new position in shares of Nano Nuclear Energy during the third quarter worth $933,000.

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.