Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price fell 4.5% during mid-day trading on Thursday . The stock traded as low as $33.18 and last traded at $33.75. 3,819,095 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 7,280,796 shares. The stock had previously closed at $35.36.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NNE shares. Benchmark raised their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The stock has a 50-day moving average of $28.57 and a two-hundred day moving average of $20.12.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. On average, equities analysts forecast 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 modified their holdings of the company. New York State Common Retirement Fund purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth $30,000. IFP Advisors Inc boosted its stake in shares of Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after buying an additional 1,277 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Nano Nuclear Energy in the 3rd quarter worth $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth $66,000. Finally, Rothschild Investment LLC purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth $85,000.

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.