Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price fell 3.5% on Tuesday . The stock traded as low as $33.17 and last traded at $33.90. 1,953,776 shares changed hands during trading, a decline of 73% from the average session volume of 7,165,549 shares. The stock had previously closed at $35.11.

Analysts Set New Price Targets

NNE has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark upped their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Stock Performance

The stock has a 50-day simple moving average of $29.00 and a 200 day simple moving average of $20.57.

Nano Nuclear Energy (NASDAQ:NNE) last issued its earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. Equities analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $25,000. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the fourth quarter worth $30,000. IFP Advisors Inc grew its holdings in shares of Nano Nuclear Energy by 638.5% during the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after purchasing an additional 1,277 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $66,000. Finally, Barclays PLC bought a new stake in shares of Nano Nuclear Energy during the third quarter valued at approximately $76,000.

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.