Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 1% during trading on Tuesday . The company traded as low as $36.55 and last traded at $37.70. Approximately 3,192,731 shares traded hands during trading, a decline of 55% from the average daily volume of 7,160,895 shares. The stock had previously closed at $38.10.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NNE. Benchmark boosted 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 report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Down 5.1 %

The company has a fifty day moving average price of $28.57 and a two-hundred day moving average price of $20.12.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. On average, sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Canal Insurance CO acquired a new stake in Nano Nuclear Energy in the 4th quarter valued at about $622,000. State Street Corp bought a new stake in Nano Nuclear Energy in the third quarter valued at approximately $718,000. Virtu Financial LLC acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $933,000. SG Americas Securities LLC bought a new position in shares of Nano Nuclear Energy during the 4th quarter worth approximately $345,000. Finally, Geode Capital Management LLC acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter worth approximately $954,000.

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.