Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.5% - Should You Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) fell 4.5% during mid-day trading on Thursday . The company traded as low as $33.18 and last traded at $33.75. 3,819,095 shares traded hands during trading, a decline of 48% from the average session volume of 7,280,796 shares. The stock had previously closed at $35.36.

Wall Street Analyst Weigh In

NNE has been the topic of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark raised 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 Stock Up 5.1 %

The business has a fifty day moving average of $28.85 and a 200-day moving average of $20.38.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.08. As a group, research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNE. Citizens Financial Group Inc. RI boosted its holdings in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company's stock valued at $10,505,000 after buying an additional 643,000 shares in the last quarter. State Street Corp acquired a new stake in Nano Nuclear Energy in the third quarter valued at approximately $718,000. XTX Topco Ltd purchased a new position in Nano Nuclear Energy in the third quarter worth $305,000. Barclays PLC purchased a new position in Nano Nuclear Energy in the third quarter worth $76,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nano Nuclear Energy during the third quarter worth $954,000.

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.