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

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was down 16.7% during trading on Monday . The stock traded as low as $26.70 and last traded at $28.00. Approximately 6,492,344 shares were traded during trading, an increase of 101% from the average daily volume of 3,237,472 shares. The stock had previously closed at $33.60.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NNE. Benchmark boosted 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 price target on shares of Nano Nuclear Energy in a report on Wednesday.

Nano Nuclear Energy Stock Up 2.9 %

The firm’s 50-day simple moving average is $19.88 and its 200-day simple moving average is $14.98.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy during the second quarter valued at $250,000. Citizens Financial Group Inc. RI bought a new position in Nano Nuclear Energy during the 2nd quarter valued at about $2,016,000. State Street Corp bought a new position in Nano Nuclear Energy during the 3rd quarter valued at about $718,000. XTX Topco Ltd bought a new stake in Nano Nuclear Energy during the third quarter worth about $305,000. Finally, Barclays PLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth approximately $76,000.

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.