Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 6.6% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares were down 6.6% during trading on Wednesday . The company traded as low as $28.40 and last traded at $29.54. Approximately 1,057,468 shares were traded during trading, a decline of 72% from the average daily volume of 3,791,001 shares. The stock had previously closed at $31.63.

Analyst Upgrades and Downgrades

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 Wednesday, January 29th.

Nano Nuclear Energy Trading Down 8.1 %

The firm’s 50-day simple moving average is $31.42 and its 200 day simple moving average is $24.93. The stock has a market cap of $1.08 billion and a P/E ratio of -70.81.

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, topping analysts’ consensus estimates of ($0.18) by $0.09. On average, analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NNE. JPMorgan Chase & Co. grew its position in Nano Nuclear Energy by 19.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company’s stock valued at $52,000 after buying an additional 331 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $29,000. New York State Common Retirement Fund acquired a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new stake in Nano Nuclear Energy during the fourth quarter worth approximately $30,000. Finally, IFP Advisors Inc raised its holdings in Nano Nuclear Energy by 638.5% during the fourth quarter. IFP Advisors Inc now owns 1,477 shares of the company’s stock worth $37,000 after purchasing an additional 1,277 shares in the last quarter.

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.