Nano Nuclear Energy (NASDAQ:NNE) Trading Down 21.5% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) fell 21.5% during mid-day trading on Monday . The stock traded as low as $33.51 and last traded at $34.93. 6,635,766 shares were traded during mid-day trading, a decline of 1% from the average session volume of 6,723,751 shares. The stock had previously closed at $44.51.

Analyst Ratings Changes

NNE has been the subject of several analyst reports. 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. Benchmark lifted their price target 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 26.6 %

The stock has a fifty day simple moving average of $26.95 and a 200-day simple moving average of $19.31.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NNE. JPMorgan Chase & Co. purchased a new position in shares of Nano Nuclear Energy during the third quarter worth approximately $25,000. Barclays PLC purchased a new position in Nano Nuclear Energy during the 3rd quarter worth $76,000. Fulton Bank N.A. acquired a new position in Nano Nuclear Energy in the fourth quarter valued at $213,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at about $227,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Nano Nuclear Energy during the fourth quarter worth about $345,000.

About Nano Nuclear Energy

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.