Nano Nuclear Energy (NASDAQ:NNE) Shares Down 8.8% - Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares dropped 8.8% on Wednesday . The stock traded as low as $32.18 and last traded at $31.81. Approximately 4,024,240 shares traded hands during trading, an increase of 8% from the average daily volume of 3,724,586 shares. The stock had previously closed at $34.89.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Monday, March 31st.

Nano Nuclear Energy Stock Performance

The stock has a market cap of $1.16 billion and a PE ratio of -75.44. The company's 50-day moving average price is $25.09 and its two-hundred day moving average price is $27.57.

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 analysts' consensus estimates of ($0.11) by ($0.46). Equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in Nano Nuclear Energy in the third quarter valued at approximately $25,000. North Capital Inc. purchased a new position in shares of Nano Nuclear Energy in the first quarter worth $26,000. Marshall Investment Management LLC bought a new stake in Nano Nuclear Energy during the 1st quarter valued at $27,000. Ameriflex Group Inc. bought a new stake in Nano Nuclear Energy in the 4th quarter worth $29,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Nano Nuclear Energy in the fourth quarter valued at 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.