Nano Nuclear Energy (NASDAQ:NNE) Trading Down 11.5% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded down 11.5% on Monday . The company traded as low as $17.77 and last traded at $17.58. Approximately 578,550 shares traded hands during trading, a decline of 84% from the average session volume of 3,639,885 shares. The stock had previously closed at $19.86.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Price Performance

The firm has a 50 day moving average price of $27.30 and a 200-day moving average price of $26.32. The firm has a market capitalization of $663.98 million and a price-to-earnings ratio of -43.68.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.09. Equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors have recently bought and sold shares of NNE. Anson Funds Management LP acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter worth about $20,746,000. Hudson Bay Capital Management LP acquired a new stake in Nano Nuclear Energy during the fourth quarter worth approximately $19,642,000. Vanguard Group Inc. lifted its position in shares of Nano Nuclear Energy by 2,838.5% during the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock worth $17,068,000 after buying an additional 662,287 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Nano Nuclear Energy in the 4th quarter valued at $11,311,000. Finally, Nuveen Asset Management LLC purchased a new position in shares of Nano Nuclear Energy in the 4th quarter valued at $4,544,000.

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.