Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 2.4% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares dropped 2.4% during mid-day trading on Thursday . The stock traded as low as $27.33 and last traded at $28.08. Approximately 551,804 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,903,781 shares. The stock had previously closed at $28.77.

Wall Street Analyst Weigh In

NNE has been the topic of a number of analyst reports. Benchmark upped their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Trading Down 5.5 %

The firm has a market capitalization of $1.01 billion and a PE ratio of -66.42. The firm has a 50 day simple moving average of $30.50 and a 200 day simple moving average of $22.92.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. Research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in Nano Nuclear Energy during the third quarter valued at approximately $25,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy during the 4th quarter valued at $29,000. New York State Common Retirement Fund bought a new position in shares of Nano Nuclear Energy during the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth $30,000. Finally, IFP Advisors Inc grew its holdings in shares of 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 acquiring an additional 1,277 shares during the period.

About Nano Nuclear Energy

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.