Nano Nuclear Energy (NASDAQ:NNE) Shares Down 3.5% - Should You Sell?

Key Points

• Nano Nuclear Energy Inc. shares fell 3.5% during recent trading, with a volume drop of 80% compared to the average session.
• Brokers have issued a consensus rating of "Buy" for the stock, with a target price averaging $51.75 after several brokerages, including Northland Capmk, raised their ratings.
• The company reported a quarterly loss with an EPS of ($0.57), missing the consensus estimate significantly.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares traded down 3.5% during mid-day trading on Thursday . The company traded as low as $37.09 and last traded at $36.94. 790,955 shares changed hands during trading, a decline of 80% from the average session volume of 3,894,375 shares. The stock had previously closed at $38.29.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NNE. Northland Capmk raised shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. LADENBURG THALM/SH SH started coverage on shares of Nano Nuclear Energy in a research note on Thursday, July 10th. They issued a "buy" rating and a $51.00 price objective on the stock. Finally, Northland Securities initiated coverage on Nano Nuclear Energy in a report on Monday, July 7th. They set an "outperform" rating and a $40.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $51.75.

Nano Nuclear Energy Trading Down 3.6%

The company has a market cap of $1.53 billion, a price-to-earnings ratio of -40.55 and a beta of 7.15. The business has a fifty day moving average of $34.59 and a two-hundred day moving average of $30.51.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.46). On average, research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Nano Nuclear Energy by 19.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company's stock valued at $52,000 after acquiring an additional 331 shares during the period. IFP Advisors Inc lifted its position in Nano Nuclear Energy by 27.9% in the second quarter. IFP Advisors Inc now owns 4,128 shares of the company's stock valued at $142,000 after acquiring an additional 900 shares during the last quarter. North Capital Inc. acquired a new position in Nano Nuclear Energy in the first quarter valued at $26,000. Marshall Investment Management LLC acquired a new stake in shares of Nano Nuclear Energy during the first quarter worth about $27,000. Finally, MGO One Seven LLC increased its position in Nano Nuclear Energy by 7.5% in the 2nd quarter. MGO One Seven LLC now owns 14,664 shares of the company's stock valued at $506,000 after acquiring an additional 1,028 shares during the period.

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.

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