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Nanosynth (NNN) Share Price Has Risen Over 32% in Two Days. Should You Buy It?

Simon Mugo trader
Updated 29 Nov 2021

Nanosynth Group PLC (LON: NNN) share price has risen over 32% in the past two, which could mark a bottom following the downtrend that started in early September.

The nanoparticles and synthesis company has been going through a board restructuring after its chairman Antony Legge and John Richardson, an executive director, resigned earlier this month.

It appears that buyers are finally taking a stand against the sellers, as evidenced by the two-day rally that was not triggered by any fundamental releases from the company. Instead, it was driven by buyers stepping in at a crucial support level.

It will be interesting to see how Nanosynth’s share price performs this week. In addition, investors should pay attention to whether the current support level will hold in the coming days, indicating further potential gains.

Nanosynth appointed Mark Duffin as its new CEO on 1 September 2021, and he was charged with turning around the company’s fortunes. Since then, the company has disposed of its subsidiary Cloudveil by returning its shares to the founder.

The company also reduced its holdings in Gyrometric Systems and refocused its business strategy under the new CEO. As a result, investors are hopeful that the company’s recent rally will continue over the long term.

In the meantime, investors interested in opening long positions in Nanosynth may find its current prices quite attractive.

*This is not investment advice. Always do your due diligence before making investment decisions.

Nanosynth share price.

IG chart of Nanosynth share price 29-11-2021
Source: IG

Nanosynth shares have risen 32.9% since Friday to trade at 0.784p, rising from Thursday’s closing price of 0.59p.

Should you invest in Nanosynth shares?

Nanosynth shares are traded on the London stock exchange’s AIM market (the alternative investment market), a submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Nanosynth shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies.

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading