Nano Nuclear Energy (NASDAQ:NNE) Shares Down 0.7% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares dropped 0.7% during trading on Monday . The company traded as low as $34.27 and last traded at $38.34. Approximately 3,664,908 shares were traded during trading, a decline of 49% from the average daily volume of 7,152,217 shares. The stock had previously closed at $38.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NNE shares. Benchmark lifted 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. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Trading Down 1.3 %

The company has a fifty day simple moving average of $27.93 and a two-hundred day simple moving average of $19.75.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. On average, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI raised its position in shares of 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 valued at $10,505,000 after buying an additional 643,000 shares during the last quarter. State Street Corp acquired a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $718,000. XTX Topco Ltd acquired a new position in shares of Nano Nuclear Energy in the third quarter valued at $305,000. Barclays PLC bought a new position in shares of Nano Nuclear Energy during the 3rd quarter worth about $76,000. Finally, Geode Capital Management LLC bought a new position in Nano Nuclear Energy during the third quarter worth about $954,000.

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.