Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 22.9% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares dropped 22.9% during trading on Tuesday . The stock traded as low as $24.67 and last traded at $25.91. Approximately 13,527,303 shares changed hands during mid-day trading, an increase of 311% from the average daily volume of 3,287,631 shares. The stock had previously closed at $33.60.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Benchmark raised their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright began coverage on shares of Nano Nuclear Energy in a research note on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price objective for the company.

Nano Nuclear Energy Stock Down 22.9 %

The company’s fifty day moving average price is $19.30 and its two-hundred day moving average price is $14.75.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors have recently modified their holdings of NNE. Barclays PLC bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $76,000. Commonwealth Equity Services LLC acquired a new stake in Nano Nuclear Energy in the second quarter valued at approximately $250,000. XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the third quarter valued at approximately $305,000. State Street Corp acquired a new stake in Nano Nuclear Energy in the third quarter valued at approximately $718,000. Finally, Virtu Financial LLC acquired a new stake in Nano Nuclear Energy in the third quarter valued at approximately $933,000.

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.