Short Interest in Nano Nuclear Energy Inc. (NASDAQ:NNE) Declines By 35.5%

Nano Nuclear Energy Inc. (NASDAQ:NNE) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,820,000 shares, a drop of 35.5% from the October 31st total of 2,820,000 shares. Currently, 9.1% of the shares of the stock are sold short. Based on an average trading volume of 4,710,000 shares, the days-to-cover ratio is currently 0.4 days.

Nano Nuclear Energy Stock Performance

Shares of NASDAQ:NNE traded up $0.75 during midday trading on Thursday, reaching $26.77. The company’s stock had a trading volume of 4,198,389 shares, compared to its average volume of 3,311,204. Nano Nuclear Energy has a fifty-two week low of $3.25 and a fifty-two week high of $37.51. The business’s fifty day simple moving average is $19.88 and its 200-day simple moving average is $14.98.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at $933,000. Barclays PLC acquired a new stake in Nano Nuclear Energy in the third quarter worth about $76,000. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy in the third quarter worth about $954,000. XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the third quarter worth about $305,000. Finally, State Street Corp acquired a new stake in Nano Nuclear Energy in the third quarter worth about $718,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NNE shares. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday. Benchmark lifted their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

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.