Nano Nuclear Energy (NASDAQ:NNE) Trading Down 2.9% - Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price dropped 2.9% during mid-day trading on Tuesday . The stock traded as low as $33.10 and last traded at $33.14. Approximately 968,259 shares changed hands during trading, a decline of 75% from the average daily volume of 3,898,895 shares. The stock had previously closed at $34.14.

Analyst Upgrades and Downgrades

NNE has been the subject of several research analyst reports. Northland Securities initiated coverage on Nano Nuclear Energy in a research report on Monday. They set an "outperform" rating and a $40.00 target price for the company. LADENBURG THALM/SH SH started coverage on Nano Nuclear Energy in a research report on Thursday. They set a "buy" rating and a $51.00 target price for the company. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Monday, March 31st. Finally, Northland Capmk upgraded Nano Nuclear Energy to a "strong-buy" rating in a report on Monday. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nano Nuclear Energy presently has an average rating of "Buy" and an average price target of $51.75.

Nano Nuclear Energy Stock Performance

The firm has a market cap of $1.42 billion, a PE ratio of -37.85 and a beta of 7.29. The firm has a fifty day simple moving average of $31.12 and a two-hundred day simple moving average of $29.12.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released 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). Equities analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several institutional investors have recently modified their holdings of NNE. Bank of New York Mellon Corp lifted its stake in shares of Nano Nuclear Energy by 40.0% in the 4th quarter. Bank of New York Mellon Corp now owns 19,077 shares of the company's stock valued at $475,000 after purchasing an additional 5,451 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Nano Nuclear Energy by 674.6% in the 4th quarter. Jones Financial Companies Lllp now owns 9,683 shares of the company's stock valued at $241,000 after purchasing an additional 8,433 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $271,000. Commonwealth Equity Services LLC lifted its stake in shares of Nano Nuclear Energy by 52.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 21,294 shares of the company's stock valued at $530,000 after purchasing an additional 7,328 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $2,596,000.

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.