Nano Nuclear Energy (NASDAQ:NNE) Shares Down 3.7% - Here's Why

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was down 3.7% on Monday . The company traded as low as $31.64 and last traded at $32.49. Approximately 4,339,307 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 7,666,370 shares. The stock had previously closed at $33.73.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NNE shares. HC Wainwright restated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, January 29th. Benchmark increased their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Trading Down 2.7 %

The firm has a market capitalization of $1.14 billion and a price-to-earnings ratio of -74.71. The company has a 50-day moving average of $30.16 and a 200-day moving average of $21.57.

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 (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. On average, research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new stake in Nano Nuclear Energy in the fourth quarter worth $30,000. Aster Capital Management DIFC Ltd acquired a new stake in Nano Nuclear Energy in the fourth quarter worth $30,000. IFP Advisors Inc increased its position in Nano Nuclear Energy by 638.5% in the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company's stock worth $37,000 after buying an additional 1,277 shares during the period. JPMorgan Chase & Co. acquired a new stake in Nano Nuclear Energy in the third quarter worth $25,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Nano Nuclear Energy in the fourth quarter worth $66,000.

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.