Nano Nuclear Energy (NASDAQ:NNE) Trading Down 1.7% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 1.7% during mid-day trading on Friday . The stock traded as low as $29.51 and last traded at $30.41. Approximately 310,724 shares changed hands during trading, a decline of 92% from the average daily volume of 3,802,658 shares. The stock had previously closed at $30.92.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Stock Performance

The firm’s 50-day moving average price is $30.87 and its two-hundred day moving average price is $24.21. The firm has a market capitalization of $1.10 billion and a price-to-earnings ratio of -72.90.

Nano Nuclear Energy (NASDAQ:NNE) last issued 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. As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in Nano Nuclear Energy in the third quarter valued at about $25,000. Ameriflex Group Inc. acquired a new position in Nano Nuclear Energy in the fourth quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the fourth quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in Nano Nuclear Energy in the fourth quarter valued at about $30,000. Finally, IFP Advisors Inc boosted its position in 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 buying an additional 1,277 shares in the last quarter.

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.