Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 2.6% – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 2.6% during trading on Tuesday . The stock traded as low as $26.20 and last traded at $26.50. 1,242,016 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,920,461 shares. The stock had previously closed at $27.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed 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 lifted their target price 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.

Nano Nuclear Energy Trading Up 5.2 %

The company has a market capitalization of $1.06 billion and a price-to-earnings ratio of -69.80. The stock’s fifty day simple moving average is $30.49 and its 200-day simple moving average is $22.73.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth $29,000. New York State Common Retirement Fund purchased a new position in Nano Nuclear Energy in the fourth quarter valued at $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at $30,000. Finally, IFP Advisors Inc lifted its holdings in Nano Nuclear Energy by 638.5% during 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 during the last quarter.

Nano Nuclear Energy Company Profile

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.