Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded down 5% during mid-day trading on Tuesday . The company traded as low as $22.17 and last traded at $22.26. 726,948 shares traded hands during trading, a decline of 80% from the average session volume of 3,667,743 shares. The stock had previously closed at $23.44.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Stock Down 3.2 %

The company has a 50 day simple moving average of $27.86 and a 200 day simple moving average of $26.14. The stock has a market cap of $736.27 million and a price-to-earnings ratio of -48.44.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate 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 fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new stake in Nano Nuclear Energy in the 3rd quarter valued at $25,000. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $29,000. New York State Common Retirement Fund bought a new position in shares of Nano Nuclear Energy during the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd bought a new stake in Nano Nuclear Energy in the 4th quarter worth about $30,000. Finally, IFP Advisors Inc increased its stake in Nano Nuclear Energy by 638.5% in the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after buying an additional 1,277 shares during the last quarter.

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.