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

Key Points

• Nano Nuclear Energy's stock price gapped down significantly, opening at $52.09 after a previous close of $56.63, and last trading at $50.43 with over 2.3 million shares exchanged.
• The company has received mixed analyst ratings, with a consensus rating of "Moderate Buy," four Buy ratings, and a Sell rating from Weiss Ratings.
• Institutional investors have been active, with significant changes including a new stake purchase by Hood River Capital Management valued at approximately $31.9 million.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $56.63, but opened at $52.09. Nano Nuclear Energy shares last traded at $50.43, with a volume of 2,343,624 shares changing hands.

Analyst Ratings Changes

NNE has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Saturday, September 27th. Northland Securities initiated coverage on Nano Nuclear Energy in a research report on Monday, July 7th. They issued an "outperform" rating and a $40.00 price objective on the stock. LADENBURG THALM/SH SH initiated coverage on Nano Nuclear Energy in a research report on Thursday, July 10th. They issued a "buy" rating and a $51.00 price objective on the stock. Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. Finally, BTIG Research initiated coverage on Nano Nuclear Energy in a research report on Thursday, August 28th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.75.

Nano Nuclear Energy Price Performance

The company has a market capitalization of $2.06 billion, a PE ratio of -52.97 and a beta of 6.80. The business has a 50-day moving average of $36.54 and a 200 day moving average of $31.93.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its 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, research analysts anticipate that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC purchased a new stake in Nano Nuclear Energy during the second quarter valued at approximately $31,935,000. Vanguard Group Inc. raised its position in Nano Nuclear Energy by 44.4% during the first quarter. Vanguard Group Inc. now owns 990,024 shares of the company's stock valued at $26,196,000 after purchasing an additional 304,405 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Nano Nuclear Energy during the second quarter valued at approximately $6,269,000. Nuveen LLC purchased a new stake in Nano Nuclear Energy during the first quarter valued at approximately $2,574,000. Finally, NewEdge Advisors LLC raised its position in Nano Nuclear Energy by 3,008.4% during the second quarter. NewEdge Advisors LLC now owns 59,495 shares of the company's stock valued at $2,052,000 after purchasing an additional 57,581 shares during the period.

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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