Nano Nuclear Energy (NASDAQ:NNE) Trading Down 2.6% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 2.6% during mid-day trading on Tuesday . The company traded as low as $26.20 and last traded at $26.50. Approximately 1,242,016 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 3,920,461 shares. The stock had previously closed at $27.20.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Benchmark boosted their price objective 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. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Trading Up 5.2 %

The stock has a market cap of $1.06 billion and a price-to-earnings ratio of -69.80. The stock’s 50 day moving average is $30.49 and its two-hundred day moving average is $22.73.

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

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. JPMorgan Chase & Co. boosted its holdings in shares of Nano Nuclear Energy by 19.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock valued at $52,000 after acquiring an additional 331 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $29,000. New York State Common Retirement Fund acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $30,000. Finally, IFP Advisors Inc grew its holdings in Nano Nuclear Energy by 638.5% during the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after acquiring 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.