Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 4.5% on Thursday . The stock traded as low as $33.18 and last traded at $33.75. 3,819,095 shares changed hands during trading, a decline of 48% from the average session volume of 7,280,796 shares. The stock had previously closed at $35.36.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NNE. 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. Benchmark raised their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Trading Down 3.0 %

The stock has a fifty day simple moving average of $28.57 and a 200 day simple moving average of $20.12.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly 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. On average, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently made changes to their positions in NNE. Citizens Financial Group Inc. RI increased its stake in Nano Nuclear Energy by 747.7% during the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares during the last quarter. Van ECK Associates Corp bought a new stake in Nano Nuclear Energy during the fourth quarter worth approximately $11,311,000. Perigon Wealth Management LLC bought a new stake in Nano Nuclear Energy during the fourth quarter worth approximately $2,564,000. Geode Capital Management LLC bought a new stake in Nano Nuclear Energy during the third quarter worth approximately $954,000. Finally, Virtu Financial LLC bought a new stake in Nano Nuclear Energy during the third quarter worth approximately $933,000.

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.