Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 5.8% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded down 5.8% on Friday . The stock traded as low as $24.73 and last traded at $25.27. 1,358,657 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,312,994 shares. The stock had previously closed at $26.84.

Wall Street Analysts Forecast Growth

NNE has been the topic of a number of research 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, November 27th. Benchmark boosted their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The company’s fifty day moving average is $25.30 and its two-hundred day moving average is $19.05.

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

Hedge Funds Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in shares of Nano Nuclear Energy during the third quarter worth $25,000. Barclays PLC purchased a new stake in Nano Nuclear Energy during the 3rd quarter worth about $76,000. Fulton Bank N.A. acquired a new stake in Nano Nuclear Energy in the 4th quarter valued at about $213,000. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy in the 2nd quarter valued at about $250,000. Finally, XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at about $305,000.

Nano Nuclear Energy Company Profile

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.