Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.8% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares traded down 1.8% during mid-day trading on Friday . The stock traded as low as $29.89 and last traded at $30.07. 751,289 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 6,513,654 shares. The stock had previously closed at $30.63.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th. Benchmark raised their target price on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Nano Nuclear Energy Stock Down 5.5 %

The company’s fifty day moving average is $30.24 and its 200 day moving average is $21.81. The stock has a market cap of $1.07 billion and a PE ratio of -70.59.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NNE. Nuveen Asset Management LLC purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $4,544,000. Millennium Management LLC purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $1,253,000. Hudson Bay Capital Management LP purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $19,642,000. Cetera Investment Advisers purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $424,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $1,091,000.

About Nano Nuclear Energy

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.