Nano Nuclear Energy (NASDAQ:NNE) Trading Down 6.6% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 6.6% on Wednesday . The company traded as low as $28.40 and last traded at $29.54. 1,057,468 shares were traded during mid-day trading, a decline of 72% from the average session volume of 3,791,001 shares. The stock had previously closed at $31.63.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The firm has a 50-day moving average price of $31.64 and a two-hundred day moving average price of $24.98. The firm has a market cap of $992.44 million and a price-to-earnings ratio of -65.29.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.09. Research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp purchased a new position in Nano Nuclear Energy during the 3rd quarter worth $718,000. XTX Topco Ltd purchased a new position in Nano Nuclear Energy during the third quarter worth about $305,000. Barclays PLC acquired a new stake in Nano Nuclear Energy in the third quarter valued at about $76,000. Geode Capital Management LLC purchased a new stake in Nano Nuclear Energy in the 3rd quarter valued at approximately $954,000. Finally, Virtu Financial LLC acquired a new position in Nano Nuclear Energy during the third quarter worth $933,000.

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.