Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.9% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 1.9% during mid-day trading on Wednesday . The company traded as low as $23.67 and last traded at $24.79. Approximately 1,262,554 shares traded hands during trading, a decline of 59% from the average daily volume of 3,095,206 shares. The stock had previously closed at $25.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NNE shares. HC Wainwright assumed coverage on Nano Nuclear Energy in a research report on Wednesday, October 30th. They set a “buy” rating and a $50.00 price target on the stock. Benchmark boosted 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 report on Thursday, November 7th.

Nano Nuclear Energy Stock Down 7.9 %

The firm’s 50-day simple moving average is $18.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC acquired a new position in Nano Nuclear Energy during the second quarter valued at $250,000. Citizens Financial Group Inc. RI acquired a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at about $2,016,000. State Street Corp purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth approximately $718,000. XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth approximately $305,000. Finally, Barclays PLC purchased a new position in Nano Nuclear Energy during the third quarter valued at approximately $76,000.

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.