Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 3.3% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 3.3% on Wednesday . The company traded as low as $27.23 and last traded at $27.69. 758,594 shares were traded during mid-day trading, a decline of 81% from the average session volume of 3,915,241 shares. The stock had previously closed at $28.62.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NNE shares. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark raised their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Trading Down 0.3 %

The stock’s 50-day moving average price is $30.50 and its two-hundred day moving average price is $22.87. The stock has a market capitalization of $1.06 billion and a P/E ratio of -69.52.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. On average, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anson Funds Management LP bought a new position in Nano Nuclear Energy in the 4th quarter worth approximately $20,746,000. Hudson Bay Capital Management LP purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter worth $19,642,000. Vanguard Group Inc. boosted its holdings in shares of Nano Nuclear Energy by 2,838.5% in the fourth quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock worth $17,068,000 after acquiring an additional 662,287 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after purchasing an additional 643,000 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at $11,311,000.

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.