Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 3.7% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares dropped 3.7% during mid-day trading on Tuesday . The company traded as low as $23.34 and last traded at $23.90. Approximately 931,365 shares changed hands during trading, a decline of 72% from the average daily volume of 3,373,110 shares. The stock had previously closed at $24.83.

Wall Street Analyst Weigh In

Several equities research analysts have recently 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 report on Wednesday, November 27th. Benchmark boosted their target price 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.

Nano Nuclear Energy Stock Up 0.3 %

The business has a fifty day moving average of $24.22 and a 200 day moving average of $18.49.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. As a group, equities analysts forecast that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently bought and sold shares of NNE. JPMorgan Chase & Co. acquired a new stake in shares of Nano Nuclear Energy during the third quarter worth $25,000. Barclays PLC bought a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at about $76,000. Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy during the second quarter valued at approximately $250,000. XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $305,000. Finally, State Street Corp bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $718,000.

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.