Nano Nuclear Energy (NASDAQ:NNE) Shares Down 16.4% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 16.4% during trading on Wednesday . The stock traded as low as $25.10 and last traded at $25.28. Approximately 2,551,448 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 4,427,847 shares. The stock had previously closed at $30.24.

Analyst Ratings Changes

NNE has been the topic of several analyst reports. 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, November 27th. Benchmark boosted their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Trading Down 12.2 %

The stock has a 50 day moving average price of $24.89 and a two-hundred day moving average price of $18.98.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in Nano Nuclear Energy in the 3rd quarter valued at $25,000. Barclays PLC purchased a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $76,000. Fulton Bank N.A. acquired a new position in Nano Nuclear Energy during the fourth quarter worth $213,000. Commonwealth Equity Services LLC purchased a new stake in Nano Nuclear Energy in the 2nd quarter valued at $250,000. Finally, XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $305,000.

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.