Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 22.9% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 22.9% on Tuesday . The company traded as low as $24.67 and last traded at $25.91. 13,527,303 shares changed hands during trading, an increase of 311% from the average session volume of 3,287,631 shares. The stock had previously closed at $33.60.

Wall Street Analyst Weigh In

Several brokerages have commented on NNE. HC Wainwright assumed coverage on shares of Nano Nuclear Energy in a research report on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price target on the stock. 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.

Nano Nuclear Energy Stock Performance

The company has a fifty day moving average of $19.30 and a two-hundred day moving average of $14.75.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of large investors have recently made changes to their positions in NNE. Virtu Financial LLC purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $933,000. Barclays PLC purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $76,000. Geode Capital Management LLC purchased a new stake in Nano Nuclear Energy during the 3rd quarter valued at $954,000. XTX Topco Ltd purchased a new stake in Nano Nuclear Energy during the 3rd quarter valued at $305,000. Finally, State Street Corp bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $718,000.

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.