Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 2.8% - Should You Sell?

Key Points

• Nano Nuclear Energy Inc. (NASDAQ:NNE) experienced a stock price decline of 2.8%, trading between $38.56 and $41.40, with a volume of 3,489,718 shares exchanged.
• The company has received a consensus rating of "Buy" from analysts, with an average price target of $51.75 and strong upward revisions from several research firms.
• Nano Nuclear Energy reported earnings per share (EPS) of ($0.19) for the latest quarter, surpassing forecasts of ($0.27), but analysts predict further losses for the current fiscal year.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was down 2.8% during trading on Thursday . The company traded as low as $38.56 and last traded at $41.40. Approximately 3,489,718 shares changed hands during trading, a decline of 7% from the average daily volume of 3,762,885 shares. The stock had previously closed at $42.58.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NNE shares. LADENBURG THALM/SH SH initiated coverage on shares of Nano Nuclear Energy in a report on Thursday, July 10th. They set a "buy" rating and a $51.00 price target for the company. 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 for the company. Northland Capmk raised shares of Nano Nuclear Energy to a "strong-buy" rating in a research report on Monday, July 7th. BTIG Research assumed coverage on shares of Nano Nuclear Energy in a research report on Thursday, August 28th. They set a "neutral" rating on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Nano Nuclear Energy presently has a consensus rating of "Buy" and an average price target of $51.75.

Nano Nuclear Energy Stock Down 2.8%

The stock has a market capitalization of $1.72 billion, a P/E ratio of -44.52 and a beta of 7.03. The firm has a 50-day moving average of $35.35 and a 200 day moving average of $31.01.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. Analysts predict that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Nano Nuclear Energy by 445.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,291 shares of the company's stock worth $1,569,000 after buying an additional 48,424 shares during the period. SG Americas Securities LLC grew its position in shares of Nano Nuclear Energy by 113.8% during the 1st quarter. SG Americas Securities LLC now owns 29,586 shares of the company's stock worth $783,000 after buying an additional 15,747 shares during the period. Millennium Management LLC acquired a new position in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $1,253,000. Swiss National Bank acquired a new position in shares of Nano Nuclear Energy in the 1st quarter valued at approximately $1,220,000. Finally, New York State Common Retirement Fund grew its position in shares of Nano Nuclear Energy by 533.3% in the 1st quarter. New York State Common Retirement Fund now owns 7,600 shares of the company's stock valued at $201,000 after purchasing an additional 6,400 shares during the period.

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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