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

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

Wall Street Analysts Forecast Growth

NNE has been the topic of several research reports. HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a report on Monday, March 31st. Northland Securities initiated coverage on shares of Nano Nuclear Energy in a report on Monday. They issued an "outperform" rating and a $40.00 price target on the stock. Finally, Northland Capmk upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a report on Monday.

Nano Nuclear Energy Stock Performance

The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -36.95 and a beta of 7.29. The business's 50 day moving average price is $30.44 and its 200 day moving average price is $28.99.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC purchased a new position in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $2,596,000. Franklin Resources Inc. purchased a new position in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $1,036,000. SG Americas Securities LLC lifted 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 valued at $783,000 after buying an additional 15,747 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $1,253,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Nano Nuclear Energy in the 4th quarter valued at $271,000.

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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