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

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 4.1% on Tuesday . The company traded as low as $28.23 and last traded at $29.35. 643,217 shares traded hands during trading, a decline of 83% from the average session volume of 3,832,986 shares. The stock had previously closed at $30.61.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 4.0 %

The stock has a market cap of $1.09 billion and a PE ratio of -72.14. The business’s fifty day moving average is $30.70 and its 200 day moving average is $23.97.

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. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NNE. Wealth Enhancement Advisory Services LLC purchased a new position in Nano Nuclear Energy during the 4th quarter valued at about $271,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $299,000. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $29,000. Nuveen Asset Management LLC acquired a new position in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $4,544,000. Finally, Millennium Management LLC purchased a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $1,253,000.

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.