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

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price dropped 3.4% during trading on Monday . The stock traded as low as $36.25 and last traded at $36.34. Approximately 1,339,972 shares were traded during mid-day 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 topic of several research reports. HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a report on Monday, March 31st. Northland Capmk upgraded shares of Nano Nuclear Energy to a "strong-buy" rating in a research note on Monday, July 7th. Northland Securities began coverage on shares of Nano Nuclear Energy in a research note on Monday, July 7th. They issued an "outperform" rating and a $40.00 price target on the stock. Finally, LADENBURG THALM/SH SH began coverage on shares of Nano Nuclear Energy in a research note on Thursday, July 10th. They issued a "buy" rating and a $51.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $51.75.

Nano Nuclear Energy Stock Performance

The firm has a 50 day simple moving average of $33.38 and a two-hundred day simple moving average of $29.75. The firm has a market capitalization of $1.62 billion, a P/E ratio of -42.80 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its earnings results 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 year.

Institutional Investors Weigh In On Nano Nuclear Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNE. North Capital Inc. purchased a new stake in Nano Nuclear Energy in the first quarter worth approximately $26,000. Marshall Investment Management LLC bought a new position in shares of Nano Nuclear Energy during the first quarter valued at approximately $27,000. Ameriflex Group Inc. bought a new position in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd purchased a new stake in Nano Nuclear Energy in the fourth quarter worth $30,000. Finally, KBC Group NV purchased a new stake in Nano Nuclear Energy in the first quarter worth $31,000.

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.