Nano Nuclear Energy (NASDAQ:NNE) Trading Down 8.2% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 8.2% during mid-day trading on Tuesday . The stock traded as low as $22.81 and last traded at $23.18. Approximately 1,835,048 shares were traded during trading, a decline of 45% from the average daily volume of 3,343,906 shares. The stock had previously closed at $25.25.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark increased their price target 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 Down 9.1 %

The business’s 50 day simple moving average is $21.97 and its two-hundred day simple moving average is $16.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Barclays PLC bought a new stake in Nano Nuclear Energy in the 3rd quarter worth about $76,000. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy in the 2nd quarter worth approximately $250,000. XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $305,000. State Street Corp purchased a new stake in shares of Nano Nuclear Energy during the third quarter valued at approximately $718,000. Finally, Virtu Financial LLC bought a new stake in Nano Nuclear Energy during the third quarter worth $933,000.

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.