Nano Nuclear Energy (NASDAQ:NNE) Shares Down 2% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) was down 2% during mid-day trading on Friday . The stock traded as low as $31.64 and last traded at $33.06. Approximately 2,247,505 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 6,950,124 shares. The stock had previously closed at $33.73.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NNE shares. Benchmark raised their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The firm’s 50 day moving average price is $29.44 and its two-hundred day moving average price is $20.87. The company has a market cap of $1.21 billion and a P/E ratio of -80.84.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. As a group, analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Citizens Financial Group Inc. RI raised its position in Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares during the period. State Street Corp purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $718,000. XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy in the third quarter worth about $305,000. Barclays PLC purchased a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $76,000. Finally, Geode Capital Management LLC bought a new stake in Nano Nuclear Energy during the 3rd quarter valued at $954,000.

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.