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

Nano Nuclear Energy Inc. (NASDAQ:NNE) gapped down before the market opened on Friday . The stock had previously closed at $22.64, but opened at $21.50. Nano Nuclear Energy shares last traded at $21.27, with a volume of 991,997 shares traded.

Analysts Set New Price Targets

NNE has been the subject of several recent analyst reports. HC Wainwright initiated coverage on shares of Nano Nuclear Energy in a research report on Wednesday, October 30th. They set a “buy” rating and a $50.00 price objective for the company. Benchmark upped their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The company has a 50-day moving average price of $17.16.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.17) EPS for the quarter. Research analysts anticipate that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

An institutional investor recently bought a new position in Nano Nuclear Energy stock. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,665 shares of the company’s stock, valued at approximately $250,000.

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.