Nano Nuclear Energy (NASDAQ:NNE) Trading Down 4.7% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price was down 4.7% during mid-day trading on Tuesday . The stock traded as low as $24.75 and last traded at $25.09. Approximately 1,513,494 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 3,355,855 shares. The stock had previously closed at $26.32.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Benchmark boosted their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th.

Nano Nuclear Energy Price Performance

The company’s 50-day moving average is $22.95 and its two-hundred day moving average is $17.16.

Hedge Funds Weigh In On Nano Nuclear Energy

Several large investors have recently bought and sold shares of NNE. Barclays PLC purchased a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $76,000. Commonwealth Equity Services LLC purchased a new stake in Nano Nuclear Energy in the 2nd quarter valued at about $250,000. XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $305,000. State Street Corp purchased a new position in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $718,000. Finally, Virtu Financial LLC bought a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $933,000.

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.