Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 2.6% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) was down 2.6% on Tuesday . The stock traded as low as $31.80 and last traded at $32.08. Approximately 612,585 shares traded hands during trading, a decline of 88% from the average daily volume of 5,008,248 shares. The stock had previously closed at $32.93.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The firm has a fifty day simple moving average of $31.21 and a 200 day simple moving average of $24.75. The company has a market cap of $1.16 billion and a price-to-earnings ratio of -75.36.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.09. Analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Nano Nuclear Energy by 19.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock valued at $52,000 after buying an additional 331 shares during the last quarter. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth approximately $30,000. Finally, IFP Advisors Inc grew its holdings in shares of Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after purchasing 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.