Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 4.4% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 4.4% during mid-day trading on Wednesday . The company traded as low as $24.62 and last traded at $24.81. Approximately 977,866 shares changed hands during trading, a decline of 74% from the average daily volume of 3,748,325 shares. The stock had previously closed at $25.96.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Monday.

Nano Nuclear Energy Stock Performance

The company’s 50 day simple moving average is $31.59 and its 200-day simple moving average is $25.51. The firm has a market capitalization of $913.48 million and a PE ratio of -60.10.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data 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 forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Nano Nuclear Energy by 19.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock worth $52,000 after buying an additional 331 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth approximately $29,000. New York State Common Retirement Fund purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nano Nuclear Energy during the 4th quarter valued at $30,000. Finally, IFP Advisors Inc raised its position in 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 purchasing an additional 1,277 shares during the period.

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.