Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 3.7% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 3.7% during mid-day trading on Monday . The stock traded as low as $31.64 and last traded at $32.49. 4,339,307 shares traded hands during trading, a decline of 43% from the average session volume of 7,666,370 shares. The stock had previously closed at $33.73.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark increased their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Stock Performance

The company’s 50 day moving average is $29.55 and its 200-day moving average is $21.13.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $424,000. Balyasny Asset Management L.P. purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $1,091,000. BNP Paribas Financial Markets raised its holdings in shares of Nano Nuclear Energy by 15,411.5% in the fourth quarter. BNP Paribas Financial Markets now owns 104,082 shares of the company’s stock valued at $2,591,000 after purchasing an additional 103,411 shares during the last quarter. Anson Funds Management LP purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $20,746,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Nano Nuclear Energy by 31.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 51,017 shares of the company’s stock valued at $1,270,000 after purchasing an additional 12,060 shares during the last quarter.

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.