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

Key Points

• Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped down from a previous close of $32.54 to an opening price of $30.59, currently trading around $31.06, indicating recent volatility in the stock price.
• The stock has received varied analyst ratings, with one firm downgrading it from "buy" to "sell" and setting a new target price of $9.00, while another has rated it as "outperform" with a $40.00 target price.
• In its latest earnings report, NNE reported an EPS of ($0.19), exceeding expectations, but is projected to have an EPS of -0.92 for the current fiscal year.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $32.54, but opened at $30.59. Nano Nuclear Energy shares last traded at $31.06, with a volume of 720,637 shares trading hands.

Wall Street Analysts Forecast Growth

NNE has been the subject of a number of analyst reports. LADENBURG THALM/SH SH lowered Nano Nuclear Energy from a "buy" rating to a "sell" rating and lowered their price target for the company from $51.00 to $9.00 in a research report on Monday, August 18th. Northland Securities began coverage on Nano Nuclear Energy in a research report on Monday, July 7th. They set an "outperform" rating and a $40.00 target price for the company. BTIG Research began coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They set a "neutral" rating for the company. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.25.

Nano Nuclear Energy Trading Down 4.1%

The firm has a fifty day moving average of $34.84 and a two-hundred day moving average of $30.14. The company has a market cap of $1.30 billion, a PE ratio of -33.46 and a beta of 7.06.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.08. Sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

A number of large investors have recently modified their holdings of NNE. JPMorgan Chase & Co. boosted its position in shares of 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 last quarter. Barclays PLC boosted its position in shares of Nano Nuclear Energy by 27.6% during the 4th quarter. Barclays PLC now owns 6,767 shares of the company's stock valued at $168,000 after acquiring an additional 1,463 shares during the last quarter. Northern Trust Corp boosted its position in shares of Nano Nuclear Energy by 29.8% during the 4th quarter. Northern Trust Corp now owns 25,682 shares of the company's stock valued at $639,000 after acquiring an additional 5,897 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Nano Nuclear Energy by 31.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 51,017 shares of the company's stock valued at $1,270,000 after acquiring an additional 12,060 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Nano Nuclear Energy by 15,411.5% during the 4th quarter. BNP Paribas Financial Markets now owns 104,082 shares of the company's stock valued at $2,591,000 after acquiring an additional 103,411 shares during 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.

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