Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1.4% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 1.4% during mid-day trading on Tuesday . The company traded as low as $30.24 and last traded at $32.09. 2,694,935 shares traded hands during trading, a decline of 37% from the average session volume of 4,292,731 shares. The stock had previously closed at $32.56.

Wall Street Analyst Weigh In

A number of research firms recently commented on NNE. Benchmark increased their target price on 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 Stock Performance

The stock has a 50 day moving average price of $25.02 and a 200-day moving average price of $19.03.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. On average, sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors have recently modified their holdings of NNE. JPMorgan Chase & Co. bought a new position in Nano Nuclear Energy in the 3rd quarter worth $25,000. Barclays PLC bought a new position in Nano Nuclear Energy in the third quarter worth about $76,000. Fulton Bank N.A. purchased a new stake in Nano Nuclear Energy in the fourth quarter worth about $213,000. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy during the 2nd quarter valued at approximately $250,000. Finally, XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $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.