Nano Nuclear Energy (NASDAQ:NNE) Trading Down 8.2% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price fell 8.2% on Tuesday . The company traded as low as $22.81 and last traded at $23.18. 1,835,048 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 3,343,906 shares. The stock had previously closed at $25.25.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NNE. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark increased their target price 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 Stock Performance

The firm has a 50 day moving average price of $21.97 and a two-hundred day moving average price of $16.34.

Hedge Funds Weigh In On Nano Nuclear Energy

Several large investors have recently modified their holdings of NNE. Citizens Financial Group Inc. RI raised its stake 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 valued at $10,505,000 after purchasing an additional 643,000 shares during the period. Geode Capital Management LLC purchased a new position in Nano Nuclear Energy during the third quarter valued at approximately $954,000. Virtu Financial LLC purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $933,000. State Street Corp bought a new position in shares of Nano Nuclear Energy in the third quarter worth $718,000. Finally, XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth $305,000.

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.