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

Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 22.9% on Tuesday . The stock traded as low as $24.67 and last traded at $25.91. 13,527,303 shares were traded during mid-day 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 recently weighed in on NNE. Benchmark increased their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday.

Nano Nuclear Energy Stock Up 2.9 %

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

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds have recently bought and sold shares of NNE. Citizens Financial Group Inc. RI raised its holdings 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 worth $10,505,000 after purchasing an additional 643,000 shares during the period. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy in the third quarter worth $954,000. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy in the third quarter worth $933,000. State Street Corp acquired a new stake in Nano Nuclear Energy in the third quarter worth $718,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the third quarter worth $305,000.

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.