Nano Nuclear Energy (NASDAQ:NNE) Trading Down 11.2% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price dropped 11.2% on Thursday . The company traded as low as $25.10 and last traded at $26.84. Approximately 4,832,753 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 4,936,202 shares. The stock had previously closed at $30.24.

Analysts Set New Price Targets

NNE has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark raised their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The stock has a fifty day simple moving average of $25.30 and a two-hundred day simple moving average of $19.12.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. As a group, equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new stake in Nano Nuclear Energy during the 3rd quarter worth $25,000. Barclays PLC acquired a new position in Nano Nuclear Energy in the 3rd quarter worth $76,000. Fulton Bank N.A. acquired a new position in Nano Nuclear Energy in the 4th quarter worth $213,000. Commonwealth Equity Services LLC acquired a new position in Nano Nuclear Energy in the 2nd quarter worth $250,000. Finally, XTX Topco Ltd acquired a new position in Nano Nuclear Energy in the 3rd quarter worth $305,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.