Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1.5% - What's Next?

Key Points

• Nano Nuclear Energy Inc. shares fell by 1.5%, closing at $36.34, with trading volume decreasing to 884,617 shares, a significant drop from the average of 3,883,801 shares.
• Analysts are optimistic, with a consensus rating of "Buy" and an average price target of $51.75, following recent ratings including a "strong-buy" from Northland Capital.
• The company reported a quarterly loss of ($0.57) per share, missing expectations and projecting a full-year EPS of -0.92.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price dropped 1.5% during trading on Friday . The company traded as low as $35.81 and last traded at $36.34. Approximately 884,617 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,883,801 shares. The stock had previously closed at $36.90.

Analysts Set New Price Targets

Several analysts recently commented on the stock. LADENBURG THALM/SH SH began coverage on shares of Nano Nuclear Energy in a research report on Thursday, July 10th. They issued a "buy" rating and a $51.00 price target for the company. Northland Securities initiated coverage on shares of Nano Nuclear Energy in a research note on Monday, July 7th. They set an "outperform" rating and a $40.00 target price for the company. Finally, Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nano Nuclear Energy has a consensus rating of "Buy" and an average price target of $51.75.

Nano Nuclear Energy Price Performance

The stock's 50-day moving average is $34.71 and its 200 day moving average is $30.59. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -38.92 and a beta of 7.15.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly 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). 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 and other institutional investors have recently modified their holdings of the stock. North Capital Inc. acquired a new position in shares of Nano Nuclear Energy during the 1st quarter worth approximately $26,000. Marshall Investment Management LLC acquired a new position in shares of Nano Nuclear Energy in the first quarter worth $27,000. Ameriflex Group Inc. purchased a new stake in shares of Nano Nuclear Energy in the fourth quarter valued at $29,000. KBC Group NV acquired a new stake in shares of Nano Nuclear Energy during the first quarter valued at $31,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at $30,000.

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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