Nano Nuclear Energy (NASDAQ:NNE) Trading Down 11.2% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price fell 11.2% during mid-day trading on Thursday . The company traded as low as $25.10 and last traded at $26.84. 4,832,753 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 4,936,202 shares. The stock had previously closed at $30.24.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NNE. Benchmark upped their target price 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. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The firm’s 50 day moving average is $25.30 and its two-hundred day moving average is $19.12.

Nano Nuclear Energy (NASDAQ:NNE) last posted its 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. Analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in Nano Nuclear Energy during the second quarter worth approximately $250,000. Citizens Financial Group Inc. RI bought a new stake in Nano Nuclear Energy during the second quarter worth approximately $2,016,000. State Street Corp bought a new stake in Nano Nuclear Energy during the third quarter worth approximately $718,000. XTX Topco Ltd bought a new stake in Nano Nuclear Energy during the third quarter worth approximately $305,000. Finally, Barclays PLC bought a new stake in Nano Nuclear Energy during the third quarter worth approximately $76,000.

Nano Nuclear Energy Company Profile

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.