Nano Nuclear Energy (NASDAQ:NNE) Trading Up 2.8% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NNE. Benchmark increased their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright began coverage on Nano Nuclear Energy in a research note on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price objective on the stock.

Nano Nuclear Energy Price Performance

The firm’s 50 day simple moving average is $18.09.

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently bought and sold shares of the business. Barclays PLC purchased a new position in Nano Nuclear Energy in the third quarter valued at $76,000. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy during the second quarter worth about $250,000. XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy during the third quarter worth about $305,000. State Street Corp purchased a new position in shares of Nano Nuclear Energy during the third quarter worth about $718,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth about $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.