Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.4% – Here’s What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE) was down 1.4% during trading on Tuesday . The stock traded as low as $32.17 and last traded at $32.02. Approximately 1,976,952 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 6,858,030 shares. The stock had previously closed at $32.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Benchmark upped their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The firm has a 50 day moving average price of $29.70 and a 200-day moving average price of $21.29.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.09. As a group, sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of NNE. Nuveen Asset Management LLC purchased a new position in Nano Nuclear Energy in the fourth quarter valued at approximately $4,544,000. Millennium Management LLC purchased a new position in shares of Nano Nuclear Energy in the 4th quarter valued at $1,253,000. Hudson Bay Capital Management LP purchased a new position in shares of Nano Nuclear Energy in the 4th quarter valued at $19,642,000. Cetera Investment Advisers acquired a new stake in Nano Nuclear Energy during the 4th quarter worth $424,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Nano Nuclear Energy in the fourth quarter valued at $1,091,000.

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.