Nano Nuclear Energy (NASDAQ:NNE) Shares Down 2.6% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 2.6% during mid-day trading on Thursday . The stock traded as low as $23.63 and last traded at $24.26. 718,306 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,382,454 shares. The stock had previously closed at $24.90.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NNE shares. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th. Benchmark increased their price objective 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.

Nano Nuclear Energy Price Performance

The company has a 50-day simple moving average of $24.49 and a two-hundred day simple moving average of $18.65.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. As a group, equities analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC purchased a new position in shares of Nano Nuclear Energy in the second quarter worth about $250,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Nano Nuclear Energy during the 2nd quarter valued at approximately $2,016,000. State Street Corp bought a new position in Nano Nuclear Energy in the 3rd quarter worth approximately $718,000. XTX Topco Ltd purchased a new position in Nano Nuclear Energy in the 3rd quarter valued at approximately $305,000. Finally, Barclays PLC bought a new stake in Nano Nuclear Energy during the 3rd quarter valued at $76,000.

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.