Nano Nuclear Energy (NASDAQ:NNE) Trading Down 4.1% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 4.1% during trading on Friday . The company traded as low as $19.50 and last traded at $21.71. 1,451,743 shares were traded during mid-day trading, a decline of 53% from the average session volume of 3,086,019 shares. The stock had previously closed at $22.64.

Analyst Ratings Changes

NNE has been the subject of several research reports. Benchmark lifted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. HC Wainwright initiated 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.

Nano Nuclear Energy Price Performance

The firm’s 50-day moving average is $17.16.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share for the quarter. On average, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

A hedge fund recently raised its stake in Nano Nuclear Energy stock. Citizens Financial Group Inc. RI increased its position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) by 747.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 729,000 shares of the company’s stock after buying an additional 643,000 shares during the quarter. Citizens Financial Group Inc. RI owned about 2.26% of Nano Nuclear Energy worth $10,505,000 at the end of the most recent quarter.

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.