Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 8.4% - What's Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price dropped 8.4% during trading on Wednesday . The stock traded as low as $35.90 and last traded at $36.18. Approximately 1,647,492 shares traded hands during trading, a decline of 58% from the average daily volume of 3,925,464 shares. The stock had previously closed at $39.50.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Stock Performance

The firm has a market cap of $1.48 billion and a price-to-earnings ratio of -39.20. The business's 50-day moving average is $28.37 and its 200-day moving average is $28.42.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently bought and sold shares of the business. North Capital Inc. bought a new position in Nano Nuclear Energy in the 1st quarter valued at $26,000. Marshall Investment Management LLC acquired a new stake in shares of Nano Nuclear Energy in the first quarter valued at $27,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $29,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nano Nuclear Energy in the fourth quarter valued at about $30,000. Finally, New York State Common Retirement Fund acquired a new position in Nano Nuclear Energy during the 4th quarter worth about $30,000.

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.