Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 8.6% – Here’s Why

Posted by Tristan Rich on Nov 13th, 2024

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report) traded down 8.6% on Monday . The company traded as low as $20.75 and last traded at $20.86. 1,940,147 shares changed hands during trading, a decline of 36% from the average session volume of 3,023,344 shares. The stock had previously closed at $22.82.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NNE shares. Benchmark raised their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright started coverage on shares of Nano Nuclear Energy in a research note on Wednesday, October 30th. They issued a “buy” rating and a $50.00 price objective for the company.

Check Out Our Latest Stock Analysis on Nano Nuclear Energy

Nano Nuclear Energy Price Performance

The stock’s 50 day moving average is $16.56.

Nano Nuclear Energy (NASDAQ:NNE – Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter. As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nano Nuclear Energy stock. Citizens Financial Group Inc. RI acquired a new stake in Nano Nuclear Energy Inc. (NASDAQ:NNE – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 86,000 shares of the company’s stock, valued at approximately $2,016,000. Citizens Financial Group Inc. RI owned about 0.30% of Nano Nuclear Energy at the end of the most recent reporting period.

About Nano Nuclear Energy

(Get Free Report)

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.