Nano Nuclear Energy (NASDAQ:NNE) Trading 16.5% Higher – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) rose 16.5% during trading on Thursday . The company traded as high as $27.10 and last traded at $26.98. Approximately 2,947,426 shares were traded during trading, a decline of 5% from the average daily volume of 3,111,523 shares. The stock had previously closed at $23.15.

Wall Street Analyst Weigh In

NNE has been the subject of a number of recent research reports. HC Wainwright started coverage on shares of Nano Nuclear Energy in a report on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price objective for the company. 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 research report on Thursday, November 7th.

Nano Nuclear Energy Trading Up 14.9 %

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Nano Nuclear Energy during the 3rd quarter valued at $933,000. Barclays PLC purchased a new stake in shares of Nano Nuclear Energy during the third quarter worth about $76,000. Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy in the third quarter worth about $954,000. XTX Topco Ltd bought a new stake in shares of Nano Nuclear Energy in the third quarter worth about $305,000. Finally, State Street Corp purchased a new position in Nano Nuclear Energy during the 3rd quarter valued at about $718,000.

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.