Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 11.2% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 11.2% on Thursday . The company traded as low as $25.10 and last traded at $26.84. Approximately 4,832,753 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 4,936,202 shares. The stock had previously closed at $30.24.

Wall Street Analyst Weigh In

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

Nano Nuclear Energy Trading Down 11.2 %

The firm’s fifty day simple moving average is $25.02 and its 200-day simple moving average is $19.03.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly 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, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of NNE. State Street Corp purchased a new position in shares of Nano Nuclear Energy during the third quarter worth about $718,000. Virtu Financial LLC purchased a new position in shares of Nano Nuclear Energy during the third quarter worth about $933,000. Citizens Financial Group Inc. RI purchased a new position in shares of Nano Nuclear Energy during the second quarter worth about $2,016,000. XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy during the third quarter worth about $305,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy during the second quarter worth about $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.