Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1.2% - Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares were down 1.2% on Wednesday . The stock traded as low as $32.75 and last traded at $33.30. Approximately 551,005 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,791,215 shares. The stock had previously closed at $33.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Northland Capmk upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday. LADENBURG THALM/SH SH began coverage on shares of Nano Nuclear Energy in a research note on Thursday. They set a "buy" rating and a $51.00 price objective for the company. Northland Securities began coverage on shares of Nano Nuclear Energy in a research report on Monday. They set an "outperform" rating and a $40.00 target price for the company. Finally, HC Wainwright restated a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Monday, March 31st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $51.75.

Nano Nuclear Energy Price Performance

The business's fifty day simple moving average is $30.89 and its two-hundred day simple moving average is $29.06. The company has a market cap of $1.44 billion, a PE ratio of -38.29 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.46). As a group, analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

Large investors have recently bought and sold shares of the business. LPL Financial LLC purchased a new stake in Nano Nuclear Energy during the 4th quarter valued at about $2,596,000. Franklin Resources Inc. purchased a new stake in Nano Nuclear Energy during the 4th quarter valued at about $1,036,000. SG Americas Securities LLC grew its stake in Nano Nuclear Energy by 113.8% during the 1st quarter. SG Americas Securities LLC now owns 29,586 shares of the company's stock valued at $783,000 after acquiring an additional 15,747 shares in the last quarter. Millennium Management LLC purchased a new stake in Nano Nuclear Energy during the 4th quarter valued at about $1,253,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Nano Nuclear Energy in the 4th quarter valued at about $271,000.

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.