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

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $34.25, but opened at $33.25. Nano Nuclear Energy shares last traded at $33.07, with a volume of 644,878 shares trading hands.

Analysts Set New Price Targets

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

Nano Nuclear Energy Trading Down 5.7%

The stock has a market capitalization of $1.21 billion and a price-to-earnings ratio of -78.76. The stock's 50 day moving average is $26.06 and its two-hundred day moving average is $27.85.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNE. Gladstone Institutional Advisory LLC bought a new stake in Nano Nuclear Energy during the 4th quarter worth about $321,000. Van ECK Associates Corp bought a new stake in Nano Nuclear Energy during the 4th quarter worth about $11,311,000. Rhumbline Advisers lifted its position in Nano Nuclear Energy by 64.8% during the 4th quarter. Rhumbline Advisers now owns 6,212 shares of the company's stock worth $155,000 after buying an additional 2,442 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Nano Nuclear Energy during the 4th quarter worth about $30,000. Finally, IFP Advisors Inc lifted its position in Nano Nuclear Energy by 638.5% during the 4th quarter. IFP Advisors Inc now owns 1,477 shares of the company's stock worth $37,000 after buying an additional 1,277 shares in the last quarter.

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.