Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.2% – Should You Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were down 3.2% on Tuesday . The company traded as low as $32.64 and last traded at $32.20. Approximately 3,376,737 shares changed hands during trading, a decline of 51% from the average daily volume of 6,939,480 shares. The stock had previously closed at $33.26.

Analysts Set New Price Targets

NNE has been the subject of several recent analyst reports. Benchmark boosted 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. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday.

Nano Nuclear Energy Stock Performance

The stock’s 50 day moving average is $27.62 and its two-hundred day moving average is $19.55.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. Analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth $25,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $76,000. Rhumbline Advisers boosted its holdings in Nano Nuclear Energy by 64.8% during the fourth quarter. Rhumbline Advisers now owns 6,212 shares of the company’s stock worth $155,000 after buying an additional 2,442 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Nano Nuclear Energy during the fourth quarter worth about $200,000. Finally, Fulton Bank N.A. purchased a new position in Nano Nuclear Energy in the fourth quarter valued at about $213,000.

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.