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

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares traded down 2% on Friday . The stock traded as low as $31.64 and last traded at $33.06. 2,247,505 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 6,950,124 shares. The stock had previously closed at $33.73.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NNE shares. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark boosted their price objective 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 Stock Down 3.7 %

The company’s 50 day moving average price is $29.55 and its two-hundred day moving average price is $21.00.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings data 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, sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund purchased a new stake in Nano Nuclear Energy in the 4th quarter valued at about $30,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $30,000. IFP Advisors Inc boosted its holdings in shares of 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 purchasing an additional 1,277 shares during the period. JPMorgan Chase & Co. bought a new position in Nano Nuclear Energy in the third quarter worth approximately $25,000. Finally, SBI Securities Co. Ltd. bought a new stake in Nano Nuclear Energy during the 4th quarter valued at $66,000.

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.