Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.5% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price was down 3.5% during mid-day trading on Tuesday . The company traded as low as $33.17 and last traded at $33.90. Approximately 1,953,776 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 7,165,549 shares. The stock had previously closed at $35.11.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NNE shares. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, January 29th. Benchmark boosted their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The business’s fifty day moving average price is $29.00 and its 200 day moving average price is $20.57.

Nano Nuclear Energy (NASDAQ:NNE) last released its 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. Analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its holdings in shares of Nano Nuclear Energy by 52.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,294 shares of the company’s stock worth $530,000 after purchasing an additional 7,328 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in Nano Nuclear Energy by 23.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company’s stock worth $22,406,000 after buying an additional 171,000 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in Nano Nuclear Energy in the 4th quarter valued at about $271,000. SBI Securities Co. Ltd. acquired a new position in shares of Nano Nuclear Energy during the 4th quarter valued at about $66,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Nano Nuclear Energy by 674.6% during the 4th quarter. Jones Financial Companies Lllp now owns 9,683 shares of the company’s stock worth $241,000 after acquiring an additional 8,433 shares during the period.

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.