Nano Nuclear Energy (NASDAQ:NNE) Shares Down 4.1% - Time to Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) were down 4.1% on Tuesday . The stock traded as low as $28.23 and last traded at $29.35. Approximately 643,217 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,832,986 shares. The stock had previously closed at $30.61.

Wall Street Analysts Forecast Growth

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

Nano Nuclear Energy Trading Down 2.4 %

The firm's 50 day moving average is $30.96 and its two-hundred day moving average is $24.57. The stock has a market cap of $1.12 billion and a price-to-earnings ratio of -73.63.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.09. As a group, equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 331 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter worth about $29,000. New York State Common Retirement Fund purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter worth about $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter worth about $30,000. Finally, IFP Advisors Inc grew its holdings in shares of Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company's stock worth $37,000 after purchasing an additional 1,277 shares during the period.

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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.