Nano Nuclear Energy (NASDAQ:NNE) Trading Down 4.1% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price dropped 4.1% during mid-day trading on Tuesday . The stock traded as low as $28.23 and last traded at $29.35. Approximately 643,217 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,832,986 shares. The stock had previously closed at $30.61.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The firm has a market capitalization of $1.09 billion and a PE ratio of -72.14. The firm has a fifty day moving average of $30.70 and a 200 day moving average of $23.97.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in Nano Nuclear Energy in the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new stake in Nano Nuclear Energy during the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Nano Nuclear Energy during the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc lifted its holdings in Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after buying an additional 1,277 shares during the last quarter.

Nano Nuclear Energy Company Profile

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.