Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.5% - Here's Why

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares traded down 3.5% during trading on Tuesday . The company traded as low as $33.17 and last traded at $33.90. 1,953,776 shares were traded during mid-day trading, a decline of 73% from the average session volume of 7,165,549 shares. The stock had previously closed at $35.11.

Analysts Set New Price Targets

NNE has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark raised their price objective on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Stock Down 3.7 %

The company's 50 day simple moving average is $29.55 and its 200 day simple moving average is $21.06.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its 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, equities analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Nano Nuclear Energy by 19.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company's stock valued at $52,000 after purchasing an additional 331 shares during the period. New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. IFP Advisors Inc grew 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 acquiring an additional 1,277 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Nano Nuclear Energy by 27.6% during the 4th quarter. Barclays PLC now owns 6,767 shares of the company's stock worth $168,000 after buying an additional 1,463 shares during the period.

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.