Nano Nuclear Energy (NASDAQ:NNE) Trading Down 1.5% - Here's What Happened

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.

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

Analyst Ratings Changes

Several research firms recently weighed in on NNE. Northland Capmk upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. LADENBURG THALM/SH SH initiated coverage on Nano Nuclear Energy in a research note on Thursday, July 10th. They issued a "buy" rating and a $51.00 target price for the company. Finally, Northland Securities initiated coverage on Nano Nuclear Energy in a research note on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nano Nuclear Energy has a consensus rating of "Buy" and a consensus price target of $51.75.

Nano Nuclear Energy Stock Down 0.9%

The business has a fifty day simple moving average of $34.91 and a 200-day simple moving average of $30.42. The firm has a market cap of $1.46 billion, a P/E ratio of -38.60 and a beta of 7.15.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NNE. North Capital Inc. bought a new stake in Nano Nuclear Energy during the 1st quarter valued at approximately $26,000. Marshall Investment Management LLC bought a new stake in Nano Nuclear Energy during the 1st quarter valued at approximately $27,000. Ameriflex Group Inc. bought a new stake in Nano Nuclear Energy during the 4th quarter valued at approximately $29,000. KBC Group NV bought a new stake in Nano Nuclear Energy during the 1st quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC bought a new stake in Nano Nuclear Energy during the 1st quarter valued at approximately $40,000.

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.