Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 2.6% - Here's Why

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price fell 2.6% during trading on Tuesday . The company traded as low as $31.80 and last traded at $32.08. 612,585 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,008,248 shares. The stock had previously closed at $32.93.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The firm has a market capitalization of $990.15 million and a PE ratio of -64.94. The firm's fifty day moving average is $31.64 and its two-hundred day moving average is $24.98.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.09. As a group, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Anson Funds Management LP purchased a new stake in Nano Nuclear Energy in the 4th quarter worth about $20,746,000. Hudson Bay Capital Management LP purchased a new position in shares of Nano Nuclear Energy in the fourth quarter worth about $19,642,000. Vanguard Group Inc. raised its position in shares of Nano Nuclear Energy by 2,838.5% in the fourth 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 during the period. Van ECK Associates Corp purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $11,311,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $4,544,000.

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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.