Nano Nuclear Energy (NASDAQ:NNE) Shares Up 1.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price rose 1.5% during trading on Friday . The stock traded as high as $33.00 and last traded at $29.68. Approximately 3,969,951 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 3,170,094 shares. The stock had previously closed at $29.25.

Analysts Set New Price Targets

A number of research firms have recently commented on NNE. HC Wainwright initiated coverage on Nano Nuclear Energy in a research note on Wednesday, October 30th. They issued a “buy” rating and a $50.00 target price on the stock. Benchmark raised 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 note on Thursday, November 7th.

Nano Nuclear Energy Price Performance

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at approximately $76,000. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy in the 2nd quarter worth approximately $250,000. XTX Topco Ltd purchased a new stake in Nano Nuclear Energy during the 3rd quarter valued at $305,000. State Street Corp bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $718,000. Finally, Virtu Financial LLC bought a new stake in shares of Nano Nuclear Energy in 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.