Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.1% - Here's Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) traded down 4.1% during trading on Tuesday . The company traded as low as $28.23 and last traded at $29.35. 643,217 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,832,986 shares. The stock had previously closed at $30.61.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The company has a 50 day moving average price of $30.87 and a 200 day moving average price of $24.21. The company has a market capitalization of $1.12 billion and a PE ratio of -73.63.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.09. On average, equities analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Nano Nuclear Energy in the 4th quarter worth approximately $271,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Nano Nuclear Energy during the fourth quarter worth $299,000. Ameriflex Group Inc. bought a new position in Nano Nuclear Energy during the fourth quarter worth $29,000. Nuveen Asset Management LLC acquired a new position in Nano Nuclear Energy in the fourth quarter worth $4,544,000. Finally, Millennium Management LLC bought a new stake in Nano Nuclear Energy during the fourth quarter valued at $1,253,000.

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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.