Nano Nuclear Energy (NASDAQ:NNE) Shares Down 2% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNEGet Free Report)’s stock price dropped 2% during trading on Thursday . The company traded as low as $26.56 and last traded at $27.24. Approximately 529,233 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 3,857,144 shares. The stock had previously closed at $27.78.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

View Our Latest Stock Report on Nano Nuclear Energy

Nano Nuclear Energy Price Performance

The stock’s 50 day simple moving average is $30.74 and its two-hundred day simple moving average is $23.64. The stock has a market cap of $1.12 billion and a price-to-earnings ratio of -73.80.

Nano Nuclear Energy (NASDAQ:NNEGet Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Anson Funds Management LP bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $20,746,000. Hudson Bay Capital Management LP bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $19,642,000. Vanguard Group Inc. raised its holdings in shares of Nano Nuclear Energy by 2,838.5% in the fourth quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock valued at $17,068,000 after buying an additional 662,287 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of 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 buying an additional 643,000 shares during the last quarter. Finally, Van ECK Associates Corp bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $11,311,000.

About Nano Nuclear Energy

(Get Free Report)

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.

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