Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1.6% - Here's What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price was down 1.6% on Friday . The company traded as low as $37.00 and last traded at $37.07. Approximately 1,007,048 shares traded hands during trading, a decline of 74% from the average daily volume of 3,829,600 shares. The stock had previously closed at $37.68.

Analyst Ratings Changes

A number of equities analysts recently commented on NNE shares. HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research note on Monday, March 31st. Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. Northland Securities assumed coverage on shares of Nano Nuclear Energy in a research note on Monday, July 7th. They set an "outperform" rating and a $40.00 price objective on the stock. Finally, LADENBURG THALM/SH SH assumed 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 on the stock. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Price Performance

The company has a market cap of $1.56 billion, a P/E ratio of -41.21 and a beta of 7.29. The company's 50-day moving average price is $32.32 and its 200-day moving average price is $29.41.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings data 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, equities research analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors have recently added to or reduced their stakes in NNE. Exchange Traded Concepts LLC purchased a new stake in Nano Nuclear Energy during the second quarter valued at about $6,269,000. MRA Advisory Group purchased a new stake in shares of Nano Nuclear Energy in the second quarter worth about $220,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Nano Nuclear Energy by 446.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,478 shares of the company's stock worth $120,000 after buying an additional 2,842 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Nano Nuclear Energy by 2,859.7% in the second quarter. Salem Investment Counselors Inc. now owns 1,835 shares of the company's stock worth $63,000 after buying an additional 1,773 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Nano Nuclear Energy by 376.9% in the first quarter. Rhumbline Advisers now owns 29,628 shares of the company's stock valued at $784,000 after purchasing an additional 23,416 shares in the last quarter.

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.

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