Nano Nuclear Energy (NASDAQ:NNE) Trading 16.5% Higher – Should You Buy?

Posted by Emily Schoerning on Nov 23rd, 2024

Nano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report) was up 16.5% during mid-day trading on Thursday . The company traded as high as $27.10 and last traded at $26.98. Approximately 2,947,426 shares were traded during trading, a decline of 5% from the average daily volume of 3,111,523 shares. The stock had previously closed at $23.15.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. HC Wainwright began coverage on Nano Nuclear Energy in a research report on Wednesday, October 30th. They issued a “buy” rating and a $50.00 target price for the company. Benchmark boosted their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Get Our Latest Analysis on Nano Nuclear Energy

Nano Nuclear Energy Stock Up 14.9 %

The firm has a 50 day simple moving average of $19.06 and a 200 day simple moving average of $14.53.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new stake in Nano Nuclear Energy in the second quarter valued at approximately $250,000. Citizens Financial Group Inc. RI bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth $2,016,000. State Street Corp purchased a new position in Nano Nuclear Energy in the third quarter worth $718,000. XTX Topco Ltd bought a new position in Nano Nuclear Energy in the third quarter valued at $305,000. Finally, Barclays PLC purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $76,000.

Nano Nuclear Energy Company Profile

(Get Free Report)

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.