Nano Nuclear Energy (NASDAQ:NNE) Shares Up 8.7% – Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price shot up 8.7% during trading on Wednesday . The stock traded as high as $29.14 and last traded at $28.94. 2,426,990 shares changed hands during trading, a decline of 27% from the average session volume of 3,304,630 shares. The stock had previously closed at $26.62.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NNE. Benchmark lifted their target price 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 restated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The firm has a 50-day moving average price of $21.03 and a 200 day moving average price of $15.72.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently modified their holdings of NNE. Citizens Financial Group Inc. RI raised its stake in shares of Nano Nuclear Energy by 747.7% during the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares during the last quarter. Geode Capital Management LLC purchased a new position in Nano Nuclear Energy in the third quarter worth $954,000. Virtu Financial LLC purchased a new position in Nano Nuclear Energy in the third quarter worth $933,000. State Street Corp purchased a new position in Nano Nuclear Energy in the third quarter worth $718,000. Finally, XTX Topco Ltd purchased a new position in Nano Nuclear Energy in the third quarter worth $305,000.

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.