Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 3.4% - Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price was down 3.4% on Monday . The company traded as low as $36.25 and last traded at $36.34. Approximately 1,339,972 shares were traded during trading, a decline of 65% from the average daily volume of 3,843,632 shares. The stock had previously closed at $37.62.

Analysts Set New Price Targets

NNE has been the subject of a number of recent analyst reports. Northland Securities initiated coverage on Nano Nuclear Energy in a research report on Monday, July 7th. They set an "outperform" rating and a $40.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Monday, March 31st. LADENBURG THALM/SH SH started coverage on shares of Nano Nuclear Energy in a report on Thursday, July 10th. They set a "buy" rating and a $51.00 price objective for the company. Finally, Northland Capmk raised Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $51.75.

Nano Nuclear Energy Stock Down 9.4%

The firm has a 50-day moving average price of $32.60 and a two-hundred day moving average price of $29.57. The company has a market capitalization of $1.41 billion, a P/E ratio of -37.47 and a beta of 7.29.

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

Institutional Trading of Nano Nuclear Energy

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position 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 worth $475,000 after acquiring an additional 5,451 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at $271,000. Commonwealth Equity Services LLC boosted its holdings 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 worth $530,000 after buying an additional 7,328 shares during the last quarter. LPL Financial LLC bought a new position in Nano Nuclear Energy during the fourth quarter valued at about $2,596,000. Finally, Vanguard Group Inc. increased its holdings in Nano Nuclear Energy by 2,838.5% during the fourth quarter. Vanguard Group Inc. now owns 685,619 shares of the company's stock worth $17,068,000 after buying an additional 662,287 shares during 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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