Nano Nuclear Energy (NASDAQ:NNE) Shares Down 8.1% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) was down 8.1% during mid-day trading on Tuesday . The company traded as low as $41.55 and last traded at $41.58. Approximately 2,110,422 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 3,886,500 shares. The stock had previously closed at $45.24.

Analyst Ratings Changes

A number of analysts have recently issued reports on NNE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH started coverage on shares of Nano Nuclear Energy in a research note on Thursday, July 10th. They issued a “buy” rating and a $51.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Friday, August 15th. Northland Capmk raised shares of Nano Nuclear Energy to a “strong-buy” rating in a research note on Monday, July 7th. Finally, BTIG Research started coverage on shares of Nano Nuclear Energy in a research note on Thursday, August 28th. They issued a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nano Nuclear Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Nano Nuclear Energy Stock Down 8.1%

The company has a market capitalization of $2.09 billion, a PE ratio of -44.71 and a beta of 6.80. The company’s 50 day moving average is $41.27 and its two-hundred day moving average is $34.96.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. Analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently bought and sold shares of NNE. Hood River Capital Management LLC bought a new position in Nano Nuclear Energy during the second quarter valued at $31,935,000. Vanguard Group Inc. lifted its position in Nano Nuclear Energy by 44.4% during the first quarter. Vanguard Group Inc. now owns 990,024 shares of the company’s stock valued at $26,196,000 after purchasing an additional 304,405 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Nano Nuclear Energy during the second quarter valued at $6,269,000. Nuveen LLC bought a new position in Nano Nuclear Energy during the first quarter valued at $2,574,000. Finally, NewEdge Advisors LLC lifted its position in Nano Nuclear Energy by 3,008.4% during the second quarter. NewEdge Advisors LLC now owns 59,495 shares of the company’s stock valued at $2,052,000 after purchasing an additional 57,581 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.