Nano Nuclear Energy (NASDAQ:NNE) Shares Down 2% - Here's Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) were down 2% during mid-day trading on Friday . The company traded as low as $31.64 and last traded at $33.06. Approximately 2,247,505 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 6,950,124 shares. The stock had previously closed at $33.73.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Benchmark increased 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 reiterated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 3.7 %

The company has a 50-day moving average price of $29.55 and a 200 day moving average price of $21.13.

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

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NNE. Hudson Bay Capital Management LP acquired a new position in Nano Nuclear Energy in the fourth quarter worth approximately $19,642,000. Anson Funds Management LP acquired a new position in shares of Nano Nuclear Energy during the 4th quarter worth $20,746,000. Vanguard Group Inc. raised its holdings in shares of Nano Nuclear Energy by 2,838.5% during the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company's stock valued at $17,068,000 after purchasing an additional 662,287 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company's stock valued at $10,505,000 after purchasing an additional 643,000 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at $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.