Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Down – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $38.62, but opened at $34.75. Nano Nuclear Energy shares last traded at $38.03, with a volume of 2,531,532 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on NNE shares. Benchmark lifted 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. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The business has a 50 day simple moving average of $27.93 and a 200-day simple moving average of $19.75.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. On average, equities research analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently modified their holdings of the stock. Citizens Financial Group Inc. RI increased its holdings in Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares during the last quarter. State Street Corp bought a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $718,000. XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at approximately $305,000. Barclays PLC bought a new position in Nano Nuclear Energy in the 3rd quarter worth approximately $76,000. Finally, Geode Capital Management LLC purchased a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $954,000.

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.