Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 7.4% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares traded down 7.4% during mid-day trading on Thursday . The stock traded as low as $28.89 and last traded at $29.14. 1,789,652 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 6,635,841 shares. The stock had previously closed at $31.48.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark boosted their price objective 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.

Nano Nuclear Energy Trading Down 5.5 %

The firm has a market capitalization of $1.07 billion and a price-to-earnings ratio of -70.59. The stock’s 50 day moving average price is $30.24 and its two-hundred day moving average price is $21.72.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently made changes to their positions in NNE. JPMorgan Chase & Co. purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth about $25,000. New York State Common Retirement Fund purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $30,000. IFP Advisors Inc boosted its position in shares of 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 buying an additional 1,277 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $66,000.

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.