Nano Nuclear Energy (NASDAQ:NNE) Shares Down 15% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 15% on Monday . The company traded as low as $21.10 and last traded at $21.80. Approximately 2,641,264 shares were traded during trading, a decline of 38% from the average daily volume of 4,270,413 shares. The stock had previously closed at $25.66.

Analysts Set New Price Targets

A number of brokerages have commented on NNE. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark raised their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Trading Down 21.6 %

The company’s fifty day simple moving average is $25.30 and its 200-day simple moving average is $19.01.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.08. On average, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors have recently bought and sold shares of the business. State Street Corp purchased a new stake in Nano Nuclear Energy during the 3rd quarter valued at about $718,000. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy during the third quarter worth $933,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Nano Nuclear Energy during the 2nd quarter worth about $2,016,000. Geode Capital Management LLC acquired a new position in Nano Nuclear Energy in the third quarter valued at about $954,000. Finally, XTX Topco Ltd purchased a new position in Nano Nuclear Energy during the third quarter worth about $305,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.