Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 5.8% – Time to Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 5.8% during mid-day trading on Friday . The company traded as low as $24.73 and last traded at $25.27. Approximately 1,358,657 shares changed hands during trading, a decline of 68% from the average daily volume of 4,312,994 shares. The stock had previously closed at $26.84.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Benchmark raised 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 reissued a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The business has a 50 day simple moving average of $25.17 and a 200-day simple moving average of $19.08.

Nano Nuclear Energy (NASDAQ:NNE) last announced its 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. On average, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC acquired a new position in Nano Nuclear Energy in the 2nd quarter worth approximately $250,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Nano Nuclear Energy in the second quarter valued at $2,016,000. State Street Corp acquired a new stake in shares of Nano Nuclear Energy in the third quarter worth $718,000. XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at $305,000. Finally, Barclays PLC acquired a new position in Nano Nuclear Energy during the third quarter valued at $76,000.

About Nano Nuclear Energy

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.