Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3% – Time to Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 3% during trading on Friday . The stock traded as low as $25.65 and last traded at $26.17. Approximately 531,449 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,893,335 shares. The stock had previously closed at $26.97.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Benchmark upped their price objective on 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 set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Stock Up 0.0 %

The company’s fifty day moving average is $30.47 and its two-hundred day moving average is $22.94. The stock has a market cap of $1.00 billion and a price-to-earnings ratio of -65.34.

Nano Nuclear Energy (NASDAQ:NNE) last announced 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. Sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter worth approximately $299,000. Ameriflex Group Inc. purchased a new stake in Nano Nuclear Energy in the fourth quarter valued at $29,000. Nuveen Asset Management LLC acquired a new position in Nano Nuclear Energy in the fourth quarter valued at $4,544,000. Millennium Management LLC purchased a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $1,253,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $19,642,000.

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.