Nano Nuclear Energy (NASDAQ:NNE) Shares Down 11.6% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares dropped 11.6% during mid-day trading on Wednesday . The stock traded as low as $26.61 and last traded at $27.01. Approximately 1,160,564 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 2,109,031 shares. The stock had previously closed at $30.57.

Wall Street Analysts Forecast Growth

NNE has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Tuesday, April 21st. Wall Street Zen raised shares of Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nano Nuclear Energy currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Nano Nuclear Energy Stock Performance

The business’s fifty day moving average is $24.25 and its 200-day moving average is $27.78. The firm has a market cap of $1.38 billion, a P/E ratio of -38.29 and a beta of 5.05.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.08. Analysts predict that Nano Nuclear Energy Inc. will post -1.02 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Nano Nuclear Energy by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 2,264,051 shares of the company’s stock valued at $54,360,000 after purchasing an additional 486,367 shares during the period. JPMorgan Chase & Co. increased its position in Nano Nuclear Energy by 441.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,009 shares of the company’s stock valued at $2,854,000 after purchasing an additional 60,336 shares during the period. Van ECK Associates Corp increased its position in Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock valued at $100,190,000 after purchasing an additional 1,030,262 shares during the period. UBS Group AG increased its position in Nano Nuclear Energy by 135.7% during the 4th quarter. UBS Group AG now owns 1,158,050 shares of the company’s stock valued at $27,805,000 after purchasing an additional 666,722 shares during the period. Finally, Caprock Group LLC acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at approximately $1,347,000.

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.