Nano Nuclear Energy (NASDAQ:NNE) Trading Down 16.4% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 16.4% on Wednesday . The company traded as low as $25.10 and last traded at $25.28. Approximately 2,551,448 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 4,427,847 shares. The stock had previously closed at $30.24.

Analyst Upgrades and Downgrades

A number of research firms have commented on NNE. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark boosted their price target on shares of 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 Trading Down 4.4 %

The business has a fifty day moving average price of $25.30 and a two-hundred day moving average price of $19.12.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. As a group, analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of NNE. JPMorgan Chase & Co. bought a new stake in Nano Nuclear Energy in the third quarter valued at about $25,000. Barclays PLC acquired a new stake in Nano Nuclear Energy during the third quarter valued at approximately $76,000. Fulton Bank N.A. bought a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $213,000. Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy during the 2nd quarter worth approximately $250,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at $305,000.

About Nano Nuclear Energy

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.