Nano Nuclear Energy (NASDAQ:NNE) Trading Down 5% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 5% on Tuesday . The stock traded as low as $22.17 and last traded at $22.26. Approximately 726,948 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,667,743 shares. The stock had previously closed at $23.44.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Stock Performance

The firm has a market capitalization of $821.87 million and a price-to-earnings ratio of -54.07. The firm has a fifty day moving average price of $28.38 and a 200 day moving average price of $26.20.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data 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 predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp acquired a new position in Nano Nuclear Energy during the 3rd quarter valued at about $718,000. XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at approximately $305,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $76,000. Geode Capital Management LLC purchased a new position in Nano Nuclear Energy during the 3rd quarter valued at about $954,000. Finally, Virtu Financial LLC purchased a new stake in Nano Nuclear Energy in the 3rd quarter worth approximately $933,000.

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.