Nano Nuclear Energy (NASDAQ:NNE) Trading Down 16.7% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares dropped 16.7% during mid-day trading on Monday . The stock traded as low as $26.70 and last traded at $28.00. Approximately 6,492,344 shares changed hands during mid-day trading, an increase of 101% from the average daily volume of 3,237,472 shares. The stock had previously closed at $33.60.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Benchmark increased their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday.

Nano Nuclear Energy Stock Up 2.9 %

The business’s fifty day moving average is $19.88 and its two-hundred day moving average is $14.98.

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds have recently added to or reduced their stakes in NNE. Barclays PLC acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth $76,000. Commonwealth Equity Services LLC acquired a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at $250,000. XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy in the 3rd quarter worth $305,000. State Street Corp acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $718,000. Finally, Virtu Financial LLC bought a new stake in Nano Nuclear Energy in the third quarter valued at about $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.