Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.7% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 4.7% during trading on Tuesday . The company traded as low as $24.75 and last traded at $25.09. Approximately 1,513,494 shares were traded 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.

Wall Street Analyst Weigh In

NNE has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark upped their target price 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.

Nano Nuclear Energy Stock Performance

The stock’s 50-day moving average is $22.62 and its 200 day moving average is $16.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Citizens Financial Group Inc. RI raised its holdings in shares of Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after buying an additional 643,000 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $954,000. Virtu Financial LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $933,000. State Street Corp acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $718,000. Finally, XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $305,000.

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.