Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.8% – Here’s Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were down 1.8% on Friday . The stock traded as low as $29.89 and last traded at $30.07. Approximately 751,289 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 6,513,654 shares. The stock had previously closed at $30.63.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NNE shares. Benchmark upped their target price on 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 reissued a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Trading Down 5.5 %

The firm has a market cap of $1.07 billion and a price-to-earnings ratio of -70.56. The stock has a fifty day moving average price of $30.16 and a 200 day moving average price of $21.57.

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

Institutional Trading of Nano Nuclear Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth approximately $30,000. IFP Advisors Inc lifted its position in shares of Nano Nuclear Energy by 638.5% in the 4th 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. JPMorgan Chase & Co. bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $25,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $66,000.

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.