Nano Nuclear Energy (NASDAQ:NNE) Shares Down 7.3% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 7.3% during trading on Monday . The company traded as low as $26.40 and last traded at $26.83. 1,643,504 shares were traded during mid-day trading, a decline of 74% from the average session volume of 6,430,790 shares. The stock had previously closed at $28.94.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NNE. Benchmark upped their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Trading Down 7.2 %

The stock has a 50 day simple moving average of $30.24 and a 200-day simple moving average of $21.91. The firm has a market cap of $995.14 million and a PE ratio of -65.32.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data 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 research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in Nano Nuclear Energy during the third quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at $29,000. New York State Common Retirement Fund acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new position in Nano Nuclear Energy during the 4th quarter worth $30,000. Finally, IFP Advisors Inc increased its position in Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after buying an additional 1,277 shares in 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.