Nano Nuclear Energy (NASDAQ:NNE) Shares Down 2.6% – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was down 2.6% during mid-day trading on Tuesday . The company traded as low as $31.80 and last traded at $32.08. Approximately 612,585 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 5,008,248 shares. The stock had previously closed at $32.93.

Analyst Ratings Changes

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

Nano Nuclear Energy Stock Down 3.5 %

The firm has a market cap of $1.05 billion and a price-to-earnings ratio of -69.05. The business has a 50 day moving average price of $31.55 and a 200-day moving average price of $24.96.

Nano Nuclear Energy (NASDAQ:NNE) last issued 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. Research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in shares of Nano Nuclear Energy during the third quarter valued at about $25,000. Ameriflex Group Inc. acquired a new stake in Nano Nuclear Energy during the 4th quarter valued at approximately $29,000. New York State Common Retirement Fund purchased a new stake in Nano Nuclear Energy during the 4th quarter worth approximately $30,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. Finally, IFP Advisors Inc boosted its stake in shares of Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock valued at $37,000 after buying an additional 1,277 shares during 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.