Nano Nuclear Energy (NASDAQ:NNE) Trading Down 4.5% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price dropped 4.5% during mid-day trading on Thursday . The company traded as low as $33.18 and last traded at $33.75. Approximately 3,819,095 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 7,280,796 shares. The stock had previously closed at $35.36.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NNE shares. Benchmark increased 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 report 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 report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The stock’s 50-day moving average price is $28.85 and its 200-day moving average price is $20.35.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. On average, research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI lifted its stake in Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after buying an additional 643,000 shares during the last quarter. State Street Corp acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth about $718,000. XTX Topco Ltd bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $305,000. Barclays PLC acquired a new position in Nano Nuclear Energy during the 3rd quarter valued at about $76,000. Finally, Geode Capital Management LLC bought a new position in Nano Nuclear Energy in the 3rd quarter worth about $954,000.

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.