Nano Nuclear Energy (NASDAQ:NNE) Shares Down 0.7% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 0.7% on Monday . The stock traded as low as $34.27 and last traded at $38.34. 3,664,908 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 7,152,217 shares. The stock had previously closed at $38.62.

Analyst Upgrades and Downgrades

NNE has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research note 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 4.6 %

The company’s 50 day moving average is $28.39 and its 200-day moving average is $20.01.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. As a group, analysts expect 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 NNE. Citizens Financial Group Inc. RI lifted its holdings in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after purchasing an additional 643,000 shares during the last quarter. State Street Corp bought a new position in Nano Nuclear Energy in the 3rd quarter valued at about $718,000. XTX Topco Ltd bought a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth about $305,000. Barclays PLC acquired a new stake in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $76,000. Finally, Geode Capital Management LLC bought a new position in shares of Nano Nuclear Energy in the third quarter valued at approximately $954,000.

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.