Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 5.4% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 5.4% on Thursday . The company traded as low as $19.11 and last traded at $19.25. Approximately 1,394,938 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 2,976,798 shares. The stock had previously closed at $20.34.

Wall Street Analysts Forecast Growth

NNE has been the subject of a number of recent analyst reports. HC Wainwright initiated coverage on Nano Nuclear Energy in a research report on Wednesday. They issued a “buy” rating and a $50.00 price target for the company. Benchmark restated a “buy” rating and set a $39.00 price objective on shares of Nano Nuclear Energy in a research report on Monday, July 15th.

Nano Nuclear Energy Price Performance

The stock has a 50-day moving average price of $14.76.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter.

Institutional Investors Weigh In On Nano Nuclear Energy

An institutional investor recently bought a new position in Nano Nuclear Energy stock. Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.