Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 3.7% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 3.7% during trading on Monday . The stock traded as low as $31.64 and last traded at $32.49. Approximately 4,339,307 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 7,666,370 shares. The stock had previously closed at $33.73.

Analyst Ratings Changes

NNE has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark upped their price objective 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 Trading Down 3.7 %

The stock’s 50-day moving average is $29.55 and its 200-day moving average is $21.13.

Nano Nuclear Energy (NASDAQ:NNE) last announced 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. Analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new position in Nano Nuclear Energy in the 4th quarter valued at approximately $200,000. Canal Insurance CO bought a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $622,000. State Street Corp bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at $718,000. Powell Investment Advisors LLC bought a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $602,000. Finally, Virtu Financial LLC bought a new stake in shares of Nano Nuclear Energy in the 3rd quarter valued at $933,000.

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.