Nano Nuclear Energy (NASDAQ:NNE) Shares Down 0.1% - Here's What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price was down 0.1% during mid-day trading on Wednesday . The company traded as low as $30.40 and last traded at $31.47. Approximately 1,077,571 shares changed hands during trading, a decline of 84% from the average daily volume of 6,736,551 shares. The stock had previously closed at $31.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NNE shares. Benchmark boosted 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. HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 5.5 %

The stock has a market capitalization of $1.07 billion and a price-to-earnings ratio of -70.59. The firm has a 50-day moving average of $30.24 and a two-hundred day moving average of $21.72.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate 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 year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI increased its position in 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 worth $10,505,000 after purchasing an additional 643,000 shares during the last quarter. State Street Corp acquired a new position in Nano Nuclear Energy in the 3rd quarter worth about $718,000. XTX Topco Ltd acquired a new position in Nano Nuclear Energy in the 3rd quarter worth about $305,000. Barclays PLC acquired a new position in Nano Nuclear Energy in the 3rd quarter worth about $76,000. Finally, Geode Capital Management LLC acquired a new position in Nano Nuclear Energy in the 3rd quarter worth about $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.