Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 4.4% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 4.4% on Wednesday . The stock traded as low as $24.62 and last traded at $24.81. Approximately 977,866 shares were traded during trading, a decline of 74% from the average daily volume of 3,748,325 shares. The stock had previously closed at $25.96.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Monday.

Nano Nuclear Energy Stock Performance

The stock’s 50-day simple moving average is $31.59 and its 200-day simple moving average is $25.51. The firm has a market capitalization of $913.48 million and a PE ratio of -60.10.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Anson Funds Management LP bought a new position in Nano Nuclear Energy in the fourth quarter worth $20,746,000. Hudson Bay Capital Management LP bought a new position in shares of Nano Nuclear Energy in the 4th quarter worth about $19,642,000. Vanguard Group Inc. increased its stake in shares of Nano Nuclear Energy by 2,838.5% in 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. Van ECK Associates Corp purchased a new position in Nano Nuclear Energy during the 4th quarter valued at about $11,311,000. Finally, Nuveen Asset Management LLC bought a new stake in Nano Nuclear Energy during the fourth quarter worth about $4,544,000.

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.