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

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $23.15, but opened at $24.03. Nano Nuclear Energy shares last traded at $25.90, with a volume of 1,501,648 shares.

Analyst Upgrades and Downgrades

NNE has been the subject of several recent research reports. HC Wainwright initiated coverage on shares of Nano Nuclear Energy in a research report on Wednesday, October 30th. They set a “buy” rating and a $50.00 price target for the company. Benchmark upped their price target on shares of 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 stock’s 50-day moving average is $19.06 and its 200-day moving average is $14.53.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Nano Nuclear Energy in the 3rd quarter valued at about $933,000. Barclays PLC acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $76,000. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $954,000. XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $305,000. Finally, State Street Corp acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $718,000.

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.