Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 7.4% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 7.4% during mid-day trading on Thursday . The company traded as low as $28.89 and last traded at $29.14. Approximately 1,789,652 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 6,635,841 shares. The stock had previously closed at $31.48.

Analyst Upgrades and Downgrades

NNE has been the topic of a number of recent research reports. Benchmark upped their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The firm has a market capitalization of $1.07 billion and a PE ratio of -70.59. The company’s fifty day moving average price is $30.24 and its two-hundred day moving average price is $21.72.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. On average, equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors and hedge funds have recently bought and sold shares of NNE. JPMorgan Chase & Co. acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth approximately $25,000. New York State Common Retirement Fund acquired a new stake in Nano Nuclear Energy during the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Nano Nuclear Energy during the 4th quarter worth approximately $30,000. IFP Advisors Inc increased its position in Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after purchasing an additional 1,277 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Nano Nuclear Energy during the 4th quarter worth approximately $66,000.

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.