Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.4% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price fell 1.4% on Tuesday . The company traded as low as $32.17 and last traded at $32.02. 1,976,952 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 6,858,030 shares. The stock had previously closed at $32.49.

Wall Street Analyst Weigh In

NNE has been the topic of several recent research reports. Benchmark upped their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 2.7 %

The company has a market capitalization of $1.14 billion and a PE ratio of -74.71. The firm’s 50 day simple moving average is $30.01 and its 200 day simple moving average is $21.51.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. As a group, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.