Nano Nuclear Energy (NASDAQ:NNE) Shares Down 6.2% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 6.2% during mid-day trading on Friday . The stock traded as low as $26.07 and last traded at $26.70. 1,534,638 shares were traded during mid-day trading, a decline of 55% from the average session volume of 3,380,285 shares. The stock had previously closed at $28.47.

Wall Street Analyst Weigh In

NNE has been the subject of several analyst reports. Benchmark raised their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Price Performance

The business’s 50-day simple moving average is $24.02 and its 200 day simple moving average is $17.92.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new stake in Nano Nuclear Energy in the third quarter worth about $25,000. Barclays PLC bought a new stake in Nano Nuclear Energy during the 3rd quarter worth approximately $76,000. Commonwealth Equity Services LLC purchased a new position in Nano Nuclear Energy during the second quarter valued at approximately $250,000. XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy in the third quarter worth approximately $305,000. Finally, State Street Corp purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth $718,000.

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.