Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 15% – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 15% during mid-day trading on Monday . The stock traded as low as $21.10 and last traded at $21.80. Approximately 2,641,264 shares changed hands during trading, a decline of 38% from the average daily volume of 4,270,413 shares. The stock had previously closed at $25.66.

Analyst Ratings Changes

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

Nano Nuclear Energy Trading Up 6.9 %

The company has a fifty day simple moving average of $25.44 and a two-hundred day simple moving average of $19.03.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. As a group, equities analysts expect that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in Nano Nuclear Energy in the third quarter valued at $25,000. Barclays PLC purchased a new position in shares of Nano Nuclear Energy during the third quarter worth about $76,000. Fulton Bank N.A. acquired a new position in Nano Nuclear Energy in the 4th quarter valued at about $213,000. Commonwealth Equity Services LLC purchased a new stake in Nano Nuclear Energy during the 2nd quarter valued at approximately $250,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth approximately $305,000.

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.