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

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 6.2% during trading on Friday . The stock traded as low as $26.07 and last traded at $26.70. 1,534,638 shares changed hands 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.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NNE. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th. Benchmark boosted their price target 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 Trading Down 5.4 %

The company has a 50-day moving average price of $24.15 and a two-hundred day moving average price of $18.13.

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently made changes to their positions in the company. Citizens Financial Group Inc. RI boosted its holdings in Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after acquiring an additional 643,000 shares during the period. Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy during the third quarter worth $954,000. Virtu Financial LLC purchased a new stake in shares of Nano Nuclear Energy during the third quarter valued at $933,000. State Street Corp bought a new position in shares of Nano Nuclear Energy in the third quarter worth about $718,000. Finally, XTX Topco Ltd purchased a new position in Nano Nuclear Energy in the 3rd 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.