Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.8% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 1.8% during mid-day trading on Friday . The company traded as low as $29.89 and last traded at $30.07. Approximately 751,289 shares were traded during trading, a decline of 88% from the average daily volume of 6,513,654 shares. The stock had previously closed at $30.63.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NNE shares. Benchmark lifted their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The firm has a market cap of $1.07 billion and a price-to-earnings ratio of -70.59. The business’s 50-day moving average price is $30.24 and its two-hundred day moving average price is $21.81.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Equities analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Nano Nuclear Energy by 19.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock worth $52,000 after purchasing an additional 331 shares during the period. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new position in Nano Nuclear Energy in the fourth quarter worth $30,000. IFP Advisors Inc boosted its holdings in Nano Nuclear Energy by 638.5% in the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after purchasing an additional 1,277 shares during the period. Finally, Barclays PLC boosted its holdings in Nano Nuclear Energy by 27.6% in the fourth quarter. Barclays PLC now owns 6,767 shares of the company’s stock worth $168,000 after purchasing an additional 1,463 shares during the period.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.