Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.3% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded down 3.3% during trading on Wednesday . The stock traded as low as $27.23 and last traded at $27.69. 758,594 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,915,241 shares. The stock had previously closed at $28.62.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark raised their price objective 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.

Nano Nuclear Energy Trading Up 0.0 %

The firm has a 50-day simple moving average of $30.47 and a two-hundred day simple moving average of $22.94. The stock has a market cap of $1.00 billion and a P/E ratio of -65.80.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. Sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors have recently made changes to their positions in NNE. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Nano Nuclear Energy in the 4th quarter valued at $774,000. Newbridge Financial Services Group Inc. acquired a new position in Nano Nuclear Energy in the fourth quarter valued at about $200,000. Canal Insurance CO bought a new stake in Nano Nuclear Energy during the fourth quarter worth about $622,000. State Street Corp acquired a new stake in Nano Nuclear Energy during the third quarter worth about $718,000. Finally, Powell Investment Advisors LLC acquired a new stake in Nano Nuclear Energy during the fourth quarter worth about $602,000.

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.