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Nano Nuclear Energy (NASDAQ:NNE) Shares Down 8.6% - Here's Why

Nano Nuclear Energy logo with Energy background

Key Points

  • Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell by 8.6% on Tuesday, trading as low as $41.75, with a total of approximately 3.67 million shares exchanged.
  • Analysts maintain a generally positive outlook, with ratings including one "Strong Buy," four "Buy," and consensus price target of $51.75.
  • The company reported a quarterly earnings per share of ($0.19), exceeding expectations, as analysts forecast an annual EPS of -$0.92.
  • Five stocks we like better than Nano Nuclear Energy.

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) were down 8.6% during trading on Tuesday . The stock traded as low as $41.75 and last traded at $42.09. Approximately 3,667,867 shares changed hands during trading, a decline of 6% from the average daily volume of 3,908,281 shares. The stock had previously closed at $46.07.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on Nano Nuclear Energy

Nano Nuclear Energy Stock Down 8.6%

The stock has a market capitalization of $1.75 billion, a P/E ratio of -45.26 and a beta of 6.80. The company has a fifty day simple moving average of $38.93 and a two-hundred day simple moving average of $33.36.

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

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NNE. North Capital Inc. acquired a new position in Nano Nuclear Energy in the 1st quarter worth $26,000. Marshall Investment Management LLC acquired a new position in shares of Nano Nuclear Energy during the first quarter worth about $27,000. KBC Group NV bought a new position in shares of Nano Nuclear Energy during the first quarter worth about $31,000. Stone House Investment Management LLC acquired a new stake in Nano Nuclear Energy in the 1st quarter valued at approximately $40,000. Finally, Tripletail Wealth Management LLC bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at approximately $43,000.

About Nano Nuclear Energy

(Get Free Report)

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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