Nano Nuclear Energy (NASDAQ:NNE) Trading Down 0.8% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 0.8% during mid-day trading on Thursday . The stock traded as low as $22.39 and last traded at $22.66. 1,560,406 shares were traded during trading, a decline of 65% from the average session volume of 4,436,015 shares. The stock had previously closed at $22.85.

Analysts Set New Price Targets

Several brokerages recently issued reports on NNE. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark upped their price objective 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 firm’s 50-day moving average is $25.55 and its 200 day moving average is $19.08.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.08. Equities research analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI increased its position in shares of Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares in the last quarter. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at $954,000. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at $933,000. State Street Corp acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at $718,000. Finally, XTX Topco Ltd acquired a new stake in Nano Nuclear Energy during the 3rd quarter valued at $305,000.

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.