Nano Nuclear Energy (NASDAQ:NNE) Trading Down 6.6% – Time to Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 6.6% during mid-day trading on Wednesday . The stock traded as low as $28.40 and last traded at $29.54. 1,057,468 shares changed hands during trading, a decline of 72% from the average session volume of 3,791,001 shares. The stock had previously closed at $31.63.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The company’s fifty day simple moving average is $31.42 and its two-hundred day simple moving average is $24.93. The company has a market capitalization of $1.08 billion and a price-to-earnings ratio of -70.81.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. Sell-side analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of institutional investors have recently made changes to their positions in NNE. Wealth Enhancement Advisory Services LLC bought a new stake in Nano Nuclear Energy during the fourth quarter valued at $271,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at about $299,000. Ameriflex Group Inc. acquired a new stake in Nano Nuclear Energy during the fourth quarter worth about $29,000. Nuveen Asset Management LLC bought a new position in Nano Nuclear Energy in the fourth quarter worth about $4,544,000. Finally, Millennium Management LLC bought a new position in Nano Nuclear Energy in the fourth quarter worth about $1,253,000.

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.