Nano Nuclear Energy (NASDAQ:NNE) Trading 5% Higher – Should You Buy?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were up 5% on Tuesday . The stock traded as high as $24.95 and last traded at $22.68. Approximately 4,191,249 shares traded hands during trading, an increase of 38% from the average daily volume of 3,045,574 shares. The stock had previously closed at $21.60.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. HC Wainwright started coverage on Nano Nuclear Energy in a research note on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price target on the stock. Benchmark upped their price target 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.

Nano Nuclear Energy Stock Up 7.5 %

The stock’s fifty day moving average price is $16.26.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.17) EPS for the quarter. On average, analysts forecast that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Commonwealth Equity Services LLC bought a new stake in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,665 shares of the company’s stock, valued at approximately $250,000.

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.