Nano Nuclear Energy (NASDAQ:NNE) Stock Price Up 9.7% - Time to Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price traded up 9.7% during mid-day trading on Friday . The company traded as high as $26.64 and last traded at $26.24. 1,652,600 shares were traded during trading, an increase of 1% from the average session volume of 1,637,897 shares. The stock had previously closed at $23.93.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NNE shares. Benchmark upped their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The company's 50 day moving average price is $24.34 and its 200 day moving average price is $18.53.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. Research analysts forecast that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI boosted its holdings in shares of Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company's stock worth $10,505,000 after buying an additional 643,000 shares during the period. Geode Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $954,000. Virtu Financial LLC bought a new position in shares of Nano Nuclear Energy in the third quarter worth about $933,000. State Street Corp bought a new stake in Nano Nuclear Energy during the 3rd quarter valued at approximately $718,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the 3rd 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.