Nano Nuclear Energy (NASDAQ:NNE) Trading Down 1.5% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price fell 1.5% during mid-day trading on Thursday . The company traded as low as $33.50 and last traded at $34.10. 2,013,970 shares were traded during trading, a decline of 71% from the average session volume of 7,030,479 shares. The stock had previously closed at $34.62.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NNE. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark boosted their price target on shares of 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 Stock Performance

The stock’s 50 day simple moving average is $29.55 and its 200 day simple moving average is $21.00.

Nano Nuclear Energy (NASDAQ:NNE) last posted its earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.09. On average, equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth $30,000. Aster Capital Management DIFC Ltd bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $30,000. IFP Advisors Inc grew its position in Nano Nuclear Energy by 638.5% during the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after buying an additional 1,277 shares during the period. JPMorgan Chase & Co. bought a new position in Nano Nuclear Energy during the third quarter valued at about $25,000. Finally, SBI Securities Co. Ltd. bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $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.