Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.7% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 3.7% on Monday . The company traded as low as $31.64 and last traded at $32.49. 4,339,307 shares were traded during trading, a decline of 43% from the average session volume of 7,666,370 shares. The stock had previously closed at $33.73.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NNE. Benchmark raised their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th.

Nano Nuclear Energy Price Performance

The stock has a 50 day moving average price of $29.86 and a 200-day moving average price of $21.44. The stock has a market capitalization of $1.17 billion and a P/E ratio of -76.78.

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. Research analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI raised its holdings in Nano Nuclear Energy by 23.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company’s stock worth $22,406,000 after acquiring an additional 171,000 shares during the last quarter. Anson Funds Management LP purchased a new position in Nano Nuclear Energy in the 4th quarter worth approximately $20,746,000. Hudson Bay Capital Management LP purchased a new position in Nano Nuclear Energy in the 4th quarter worth approximately $19,642,000. Vanguard Group Inc. raised its holdings in Nano Nuclear Energy by 2,838.5% in the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company’s stock worth $17,068,000 after acquiring an additional 662,287 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in Nano Nuclear Energy in the 4th quarter worth approximately $11,311,000.

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.