Nano Nuclear Energy (NASDAQ:NNE) Shares Down 5.8% – Should You Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) were down 5.8% during mid-day trading on Friday . The company traded as low as $24.73 and last traded at $25.27. Approximately 1,358,657 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 4,312,994 shares. The stock had previously closed at $26.84.

Wall Street Analyst Weigh In

NNE has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark increased their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Nano Nuclear Energy Trading Down 4.4 %

The company’s fifty day simple moving average is $25.30 and its 200-day simple moving average is $19.05.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. As a group, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new position in Nano Nuclear Energy during the second quarter worth approximately $250,000. Citizens Financial Group Inc. RI purchased a new position in shares of Nano Nuclear Energy during the 2nd quarter worth $2,016,000. State Street Corp purchased a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $718,000. XTX Topco Ltd acquired a new stake in Nano Nuclear Energy during the third quarter worth about $305,000. Finally, Barclays PLC purchased a new position in Nano Nuclear Energy during the third quarter worth about $76,000.

About Nano Nuclear Energy

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.