Nano Nuclear Energy (NASDAQ:NNE) Shares Down 7.4% - Here's What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) were down 7.4% on Thursday . The stock traded as low as $28.89 and last traded at $29.14. Approximately 1,789,652 shares traded hands during trading, a decline of 73% from the average daily volume of 6,635,841 shares. The stock had previously closed at $31.48.

Analyst Ratings Changes

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

Nano Nuclear Energy Stock Performance

The business has a 50-day simple moving average of $30.16 and a 200 day simple moving average of $21.57. The firm has a market cap of $1.07 billion and a P/E ratio of -70.59.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. JPMorgan Chase & Co. bought a new position in Nano Nuclear Energy during the 3rd quarter valued at approximately $25,000. New York State Common Retirement Fund bought a new position in shares of Nano Nuclear Energy in the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nano Nuclear Energy in the 4th quarter worth approximately $30,000. IFP Advisors Inc raised its position in shares of Nano Nuclear Energy by 638.5% in the 4th 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, SBI Securities Co. Ltd. bought a new position in shares of Nano Nuclear Energy in the 4th quarter worth approximately $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.