Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 3% on Friday . The stock traded as low as $25.65 and last traded at $26.17. Approximately 531,449 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,893,335 shares. The stock had previously closed at $26.97.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The firm has a market capitalization of $1.00 billion and a price-to-earnings ratio of -65.80. The stock’s fifty day moving average is $30.47 and its two-hundred day moving average is $23.14.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.09. Sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Anson Funds Management LP purchased a new position in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $20,746,000. Hudson Bay Capital Management LP bought a new position in Nano Nuclear Energy during the 4th quarter valued at $19,642,000. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 662,287 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $11,311,000.

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.