Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.1% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 4.1% during mid-day trading on Friday . The stock traded as low as $19.50 and last traded at $21.71. 1,451,743 shares were traded during 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

A number of analysts have commented on NNE shares. Benchmark raised their price objective 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 note on Wednesday, October 30th. They set a “buy” rating and a $50.00 price target on the stock.

Nano Nuclear Energy Stock Performance

The business has a 50-day moving average price of $17.45.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth about $76,000. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy during the second quarter worth about $250,000. XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth approximately $305,000. State Street Corp bought a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $718,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $954,000.

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.