Nano Nuclear Energy (NASDAQ:NNE) Trading Down 22.9% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NNE shares. Benchmark raised their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday.

Nano Nuclear Energy Price Performance

The business’s 50-day moving average is $19.88 and its two-hundred day moving average is $14.98.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI lifted its stake in Nano Nuclear Energy by 747.7% in the third 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 last quarter. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy in the third quarter valued at $954,000. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy in the third quarter valued at $933,000. State Street Corp acquired a new stake in Nano Nuclear Energy in the third quarter valued at $718,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the third quarter valued at $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.