Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 2% - What's Next?

Key Points

• Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell by 2% to close at $45.37, with trading volume reaching approximately 5.2 million shares, significantly higher than the average.
• Analysts have mixed views on the stock, with ratings ranging from a "Strong Buy" to "Sell," and a consensus target price of $41.25, reflecting varied expectations for the company's performance.
• The company recently reported earnings per share of ($0.19), exceeding analyst estimates, and projections suggest a negative EPS of -0.92 for the current fiscal year.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) dropped 2% during mid-day trading on Monday . The stock traded as low as $41.25 and last traded at $45.37. Approximately 5,183,749 shares were traded during trading, an increase of 38% from the average daily volume of 3,763,979 shares. The stock had previously closed at $46.31.

Analyst Ratings Changes

NNE has been the topic of several recent research reports. LADENBURG THALM/SH SH initiated coverage on Nano Nuclear Energy in a research report on Thursday, July 10th. They set a "buy" rating and a $51.00 target price on the stock. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. Northland Securities began coverage on Nano Nuclear Energy in a research report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Friday, August 15th. Finally, BTIG Research began coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They issued a "neutral" rating for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Nano Nuclear Energy presently has a consensus rating of "Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Stock Performance

The company has a 50 day moving average of $35.02 and a two-hundred day moving average of $30.82. The stock has a market cap of $1.89 billion, a PE ratio of -48.40 and a beta of 7.06.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. As a group, equities research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Nano Nuclear Energy by 44.4% during the 1st quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock worth $26,196,000 after buying an additional 304,405 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Nano Nuclear Energy in the second quarter valued at approximately $31,935,000. Geode Capital Management LLC grew its position in shares of Nano Nuclear Energy by 6.4% in the second quarter. Geode Capital Management LLC now owns 349,104 shares of the company's stock valued at $12,039,000 after purchasing an additional 20,899 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at approximately $4,544,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Nano Nuclear Energy in the second quarter valued at approximately $6,269,000.

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.