Nano Nuclear Energy (NASDAQ:NNE) Trading Down 4.5% – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) dropped 4.5% during mid-day trading on Thursday . The company traded as low as $33.18 and last traded at $33.75. Approximately 3,819,095 shares were traded during trading, a decline of 48% from the average daily volume of 7,280,796 shares. The stock had previously closed at $35.36.

Analysts Set New Price Targets

A number of brokerages have recently commented on NNE. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a 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 company a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Price Performance

The business has a 50-day simple moving average of $28.85 and a two-hundred day simple moving average of $20.35.

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

Hedge Funds Weigh In On Nano Nuclear Energy

Large investors have recently made changes to their positions in the business. Canal Insurance CO bought a new stake in shares of Nano Nuclear Energy in the 4th quarter worth approximately $622,000. State Street Corp acquired a new position in Nano Nuclear Energy in the third quarter worth approximately $718,000. Virtu Financial LLC bought a new position in shares of Nano Nuclear Energy in the third quarter valued at $933,000. SG Americas Securities LLC acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at $345,000. Finally, Geode Capital Management LLC bought a new stake in shares of Nano Nuclear Energy during the 3rd quarter worth $954,000.

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.