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

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares dropped 1.6% during trading on Friday . The company traded as low as $37.00 and last traded at $37.07. Approximately 1,007,048 shares traded hands during mid-day 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

Several research analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a research report on Monday, March 31st. Northland Capmk upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a report on Monday, July 7th. LADENBURG THALM/SH SH assumed coverage on shares of Nano Nuclear Energy in a research note on Thursday, July 10th. They set a "buy" rating and a $51.00 price objective on the stock. Finally, Northland Securities assumed coverage on Nano Nuclear Energy in a report on Monday, July 7th. They issued an "outperform" rating and a $40.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nano Nuclear Energy has a consensus rating of "Buy" and a consensus target price of $51.75.

Nano Nuclear Energy Stock Performance

The stock has a market cap of $1.43 billion, a P/E ratio of -38.13 and a beta of 7.29. The firm has a 50 day moving average of $32.60 and a two-hundred day moving average of $29.57.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.57) EPS 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 Trading of Nano Nuclear Energy

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Nano Nuclear Energy by 19.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,076 shares of the company's stock valued at $52,000 after acquiring an additional 331 shares in the last quarter. North Capital Inc. purchased a new position in Nano Nuclear Energy in the first quarter worth approximately $26,000. Marshall Investment Management LLC purchased a new stake in Nano Nuclear Energy during the first quarter worth about $27,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Nano Nuclear Energy by 10.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,019 shares of the company's stock worth $318,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in shares of Nano Nuclear Energy during the fourth quarter worth approximately $29,000.

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.