Nano Nuclear Energy (NASDAQ:NNE) Shares Down 21.5% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 21.5% on Monday . The stock traded as low as $33.51 and last traded at $34.93. 6,635,766 shares changed hands during trading, a decline of 1% from the average session volume of 6,723,751 shares. The stock had previously closed at $44.51.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Trading Up 5.0 %

The company has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $19.43.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. On average, equities research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI lifted its holdings in Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Nano Nuclear Energy in the fourth quarter worth $11,311,000. Perigon Wealth Management LLC bought a new position in shares of Nano Nuclear Energy during the fourth quarter worth $2,564,000. Geode Capital Management LLC bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at $954,000. Finally, Virtu Financial LLC purchased a new stake in Nano Nuclear Energy in the 3rd quarter worth $933,000.

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.