Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 5.1% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 5.1% during trading on Monday . The company traded as low as $25.01 and last traded at $25.23. 1,569,969 shares traded hands during trading, a decline of 53% from the average session volume of 3,339,925 shares. The stock had previously closed at $26.59.

Analysts Set New Price Targets

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

Nano Nuclear Energy Stock Down 7.5 %

The business has a 50 day simple moving average of $21.97 and a 200-day simple moving average of $16.34.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Citizens Financial Group Inc. RI grew its position in 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 valued at $10,505,000 after purchasing an additional 643,000 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth about $954,000. Virtu Financial LLC bought a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at about $933,000. State Street Corp acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $718,000. Finally, XTX Topco Ltd bought a new stake in Nano Nuclear Energy during the third quarter worth about $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.