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

Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped down before the market opened on Monday . The stock had previously closed at $44.51, but opened at $35.98. Nano Nuclear Energy shares last traded at $34.64, with a volume of 4,579,083 shares.

Analysts Set New Price Targets

NNE has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th. Benchmark upped their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The stock has a 50-day simple moving average of $27.36 and a 200-day simple moving average of $19.43.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results 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. As a group, equities analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Citizens Financial Group Inc. RI raised its stake 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 valued at $10,505,000 after purchasing an additional 643,000 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Nano Nuclear Energy during the 4th quarter worth $2,564,000. Geode Capital Management LLC purchased a new position in Nano Nuclear Energy in the third quarter worth $954,000. Virtu Financial LLC bought a new position in Nano Nuclear Energy in the third quarter valued at $933,000. Finally, State Street Corp purchased a new stake in Nano Nuclear Energy during the third quarter valued at about $718,000.

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.