Nano Nuclear Energy (NASDAQ:NNE) Trading Down 2.6% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price dropped 2.6% on Thursday . The company traded as low as $23.63 and last traded at $24.26. Approximately 718,306 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 3,382,454 shares. The stock had previously closed at $24.90.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. 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 report on Thursday, November 7th.

Nano Nuclear Energy Trading Down 5.4 %

The business’s 50-day moving average is $24.22 and its two-hundred day moving average is $18.49.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at approximately $25,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth approximately $76,000. Commonwealth Equity Services LLC acquired a new stake in Nano Nuclear Energy in the second quarter valued at $250,000. XTX Topco Ltd bought a new position in Nano Nuclear Energy during the 3rd quarter valued at $305,000. Finally, State Street Corp acquired a new position in Nano Nuclear Energy during the 3rd quarter worth $718,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.