Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 2.6% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) was down 2.6% on Tuesday . The company traded as low as $31.80 and last traded at $32.08. Approximately 612,585 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 5,008,248 shares. The stock had previously closed at $32.93.

Analyst Ratings Changes

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

Nano Nuclear Energy Price Performance

The firm has a market cap of $1.16 billion and a PE ratio of -75.36. The business has a fifty day moving average price of $31.21 and a two-hundred day moving average price of $24.75.

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

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in Nano Nuclear Energy in the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the fourth quarter worth approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in Nano Nuclear Energy during the fourth quarter valued at approximately $30,000. IFP Advisors Inc lifted its stake in Nano Nuclear Energy by 638.5% in the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after acquiring an additional 1,277 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Nano Nuclear Energy in the third quarter worth approximately $25,000.

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.