Nano Nuclear Energy (NASDAQ:NNE) Trading Down 11.5% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 11.5% during mid-day trading on Monday . The stock traded as low as $17.77 and last traded at $17.58. Approximately 578,550 shares changed hands during trading, a decline of 84% from the average daily volume of 3,639,885 shares. The stock had previously closed at $19.86.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Price Performance

The firm has a market cap of $711.43 million and a PE ratio of -46.80. The business’s fifty day moving average is $26.69 and its 200-day moving average is $26.27.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.09. Analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $25,000. Ameriflex Group Inc. bought a new stake in Nano Nuclear Energy in the fourth quarter valued at $29,000. New York State Common Retirement Fund bought a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at about $30,000. Aster Capital Management DIFC Ltd bought a new stake in Nano Nuclear Energy during the 4th quarter valued at approximately $30,000. Finally, IFP Advisors Inc increased its holdings in shares of Nano Nuclear Energy by 638.5% during the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after acquiring an additional 1,277 shares in the last quarter.

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.