Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.4% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded down 1.4% on Tuesday . The stock traded as low as $32.17 and last traded at $32.02. 1,976,952 shares traded hands during trading, a decline of 71% from the average session volume of 6,858,030 shares. The stock had previously closed at $32.49.

Analyst Ratings Changes

Several equities analysts have commented on the company. Benchmark raised their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 2.7 %

The company has a market cap of $1.14 billion and a P/E ratio of -74.71. The business has a fifty day simple moving average of $30.01 and a two-hundred day simple moving average of $21.51.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NNE. Citizens Financial Group Inc. RI boosted its stake in shares of Nano Nuclear Energy by 23.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company’s stock worth $22,406,000 after acquiring an additional 171,000 shares during the period. Anson Funds Management LP bought a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $20,746,000. Hudson Bay Capital Management LP purchased a new position in shares of Nano Nuclear Energy in the fourth quarter worth $19,642,000. Vanguard Group Inc. boosted its position in shares of Nano Nuclear Energy by 2,838.5% during the fourth quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock worth $17,068,000 after acquiring an additional 662,287 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in Nano Nuclear Energy during the fourth quarter valued at $11,311,000.

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.