Nano Nuclear Energy (NASDAQ:NNE) Trading Down 2.6% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 2.6% during mid-day trading on Thursday . The stock traded as low as $23.63 and last traded at $24.26. 718,306 shares changed hands during trading, a decline of 79% from the average session volume of 3,382,454 shares. The stock had previously closed at $24.90.

Analysts Set New Price Targets

NNE has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th. Benchmark lifted their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Stock Down 5.4 %

The stock’s fifty day simple moving average is $24.22 and its 200-day simple moving average is $18.49.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. On average, equities analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new position in Nano Nuclear Energy in the 2nd quarter worth approximately $250,000. Citizens Financial Group Inc. RI bought a new position in shares of Nano Nuclear Energy in the second quarter worth $2,016,000. State Street Corp acquired a new position in shares of Nano Nuclear Energy during the third quarter valued at $718,000. XTX Topco Ltd acquired a new stake in Nano Nuclear Energy in the third quarter worth about $305,000. Finally, Barclays PLC acquired a new position in Nano Nuclear Energy during the 3rd quarter valued at about $76,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.