Nano Nuclear Energy (NASDAQ:NNE) Shares Up 1.5% - Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price shot up 1.5% on Friday . The company traded as high as $33.00 and last traded at $29.68. 3,969,951 shares changed hands during trading, an increase of 25% from the average session volume of 3,170,094 shares. The stock had previously closed at $29.25.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NNE shares. HC Wainwright started 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 objective for the company. Benchmark lifted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, November 7th.

Nano Nuclear Energy Stock Performance

The stock's 50 day simple moving average is $18.69 and its 200 day simple moving average is $14.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Citizens Financial Group Inc. RI boosted its holdings in 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 bought a new stake in Nano Nuclear Energy in the third quarter worth about $954,000. Virtu Financial LLC bought a new stake in Nano Nuclear Energy in the third quarter worth about $933,000. State Street Corp bought a new stake in Nano Nuclear Energy in the third quarter worth about $718,000. Finally, XTX Topco Ltd bought a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $305,000.

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.

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