Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.8% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was down 1.8% during trading on Friday . The stock traded as low as $29.89 and last traded at $30.07. Approximately 751,289 shares traded hands during trading, a decline of 88% from the average daily volume of 6,513,654 shares. The stock had previously closed at $30.63.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NNE shares. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark raised their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Trading Down 5.5 %

The stock has a fifty day moving average of $30.16 and a two-hundred day moving average of $21.57. The stock has a market capitalization of $1.07 billion and a price-to-earnings ratio of -70.56.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. Equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI lifted its position in shares of Nano Nuclear Energy by 23.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company’s stock valued at $22,406,000 after buying an additional 171,000 shares during the last quarter. Anson Funds Management LP bought a new position in Nano Nuclear Energy during the 4th quarter worth $20,746,000. Hudson Bay Capital Management LP bought a new position in Nano Nuclear Energy during the 4th quarter worth $19,642,000. Vanguard Group Inc. increased its stake in Nano Nuclear Energy by 2,838.5% during the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock worth $17,068,000 after acquiring an additional 662,287 shares during the period. Finally, Van ECK Associates Corp bought a new position in Nano Nuclear Energy during the 4th quarter worth $11,311,000.

Nano Nuclear Energy Company Profile

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.