Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 15% – Here’s Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were down 15% during mid-day trading on Monday . The company traded as low as $21.10 and last traded at $21.80. Approximately 2,641,264 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 4,270,413 shares. The stock had previously closed at $25.66.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NNE shares. Benchmark boosted their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company 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 report on Wednesday, November 27th.

Nano Nuclear Energy Trading Down 21.6 %

The firm’s fifty day simple moving average is $25.30 and its 200 day simple moving average is $19.01.

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

Hedge Funds Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently made changes to their positions in NNE. State Street Corp bought a new stake in Nano Nuclear Energy in the third quarter worth about $718,000. Virtu Financial LLC purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth approximately $933,000. Citizens Financial Group Inc. RI bought a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth approximately $2,016,000. Geode Capital Management LLC purchased a new position in Nano Nuclear Energy during the 3rd quarter valued at $954,000. Finally, XTX Topco Ltd bought a new position in Nano Nuclear Energy in the 3rd quarter valued at $305,000.

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.