Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price dropped 1% during mid-day trading on Tuesday . The company traded as low as $36.55 and last traded at $37.70. Approximately 3,192,731 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 7,160,895 shares. The stock had previously closed at $38.10.

Analysts Set New Price Targets

NNE has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, January 29th. Benchmark boosted their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Stock Down 2.3 %

The company has a fifty day moving average price of $28.17 and a 200-day moving average price of $19.89.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.08. Sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently bought and sold shares of the company. Citizens Financial Group Inc. RI lifted its holdings in Nano Nuclear Energy by 747.7% in the third quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock valued at $10,505,000 after acquiring an additional 643,000 shares during the last quarter. Van ECK Associates Corp acquired a new position in Nano Nuclear Energy during the fourth quarter worth $11,311,000. Perigon Wealth Management LLC acquired a new position in Nano Nuclear Energy during the fourth quarter worth $2,564,000. Geode Capital Management LLC acquired a new position in Nano Nuclear Energy during the third quarter worth $954,000. Finally, Virtu Financial LLC acquired a new position in Nano Nuclear Energy during the third quarter worth $933,000.

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.