Nano Nuclear Energy (NASDAQ:NNE) Shares Down 3.2% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares traded down 3.2% during mid-day trading on Tuesday . The company traded as low as $32.64 and last traded at $32.20. 3,376,737 shares traded hands during trading, a decline of 51% from the average session volume of 6,939,480 shares. The stock had previously closed at $33.26.

Analyst Ratings Changes

Several analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday. Benchmark boosted their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Trading Up 9.5 %

The business’s fifty day moving average price is $27.62 and its 200 day moving average price is $19.55.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.08. As a group, research analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NNE. Canal Insurance CO acquired a new position in Nano Nuclear Energy in the fourth quarter valued at $622,000. State Street Corp purchased a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth about $718,000. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy during the 3rd quarter worth approximately $933,000. Geode Capital Management LLC acquired a new position in Nano Nuclear Energy during the third quarter valued at approximately $954,000. Finally, Citizens Financial Group Inc. RI increased its position in shares of Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares in the last quarter.

About Nano Nuclear Energy

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.