Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Down – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped down prior to trading on Wednesday . The stock had previously closed at $30.24, but opened at $28.05. Nano Nuclear Energy shares last traded at $26.67, with a volume of 1,167,422 shares.

Analyst Ratings Changes

NNE has been the subject of a number of analyst reports. Benchmark boosted their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th.

Nano Nuclear Energy Trading Down 4.3 %

The business has a fifty day moving average price of $25.17 and a 200 day moving average price of $19.08.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. Sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI raised its stake in shares of 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 buying an additional 643,000 shares in the last quarter. Geode Capital Management LLC bought a new stake in Nano Nuclear Energy in the third quarter worth about $954,000. Virtu Financial LLC bought a new stake in Nano Nuclear Energy in the third quarter worth about $933,000. State Street Corp bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at about $718,000. Finally, XTX Topco Ltd bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at about $305,000.

About Nano Nuclear Energy

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.