Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 5.4% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 5.4% during trading on Thursday . The company traded as low as $19.11 and last traded at $19.25. Approximately 1,394,938 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 2,976,798 shares. The stock had previously closed at $20.34.

Analysts Set New Price Targets

Several research analysts have issued reports on NNE shares. HC Wainwright started coverage on Nano Nuclear Energy in a research note on Wednesday. They set a “buy” rating and a $50.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $39.00 price objective on shares of Nano Nuclear Energy in a research note on Monday, July 15th.

Nano Nuclear Energy Stock Down 2.9 %

The company has a fifty day simple moving average of $14.76.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.17) EPS for the quarter.

Institutional Trading of Nano Nuclear Energy

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Citizens Financial Group Inc. RI purchased a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 86,000 shares of the company’s stock, valued at approximately $2,016,000. Citizens Financial Group Inc. RI owned 0.30% of Nano Nuclear Energy at the end of the most recent reporting period.

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.