Nano Nuclear Energy (NASDAQ:NNE) Trading Down 4.1% – What’s Next?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 4.1% on Tuesday . The company traded as low as $28.23 and last traded at $29.35. Approximately 643,217 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,832,986 shares. The stock had previously closed at $30.61.

Analyst Upgrades and Downgrades

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

Nano Nuclear Energy Stock Performance

The stock has a market cap of $1.16 billion and a P/E ratio of -76.24. The stock’s fifty day moving average is $30.79 and its 200 day moving average is $24.16.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Anson Funds Management LP bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth about $20,746,000. Hudson Bay Capital Management LP purchased a new stake in Nano Nuclear Energy in the 4th quarter worth about $19,642,000. Vanguard Group Inc. lifted its stake in shares of Nano Nuclear Energy by 2,838.5% during 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. Citizens Financial Group Inc. RI boosted its holdings in Nano Nuclear Energy by 747.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after acquiring an additional 643,000 shares during the period. Finally, Van ECK Associates Corp bought a new position in Nano Nuclear Energy in the 4th quarter valued at $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.