Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 6.2% - Time to Sell?

Key Points

• Shares fell 6.2% to $29.79 on Wednesday on light volume (~395k shares, about 89% below the average), and the stock is trading well below its 50‑ and 200‑day moving averages (~$37).
• Analysts give a consensus rating of Moderate Buy with an average target of $47.00, based on 1 Strong Buy, 4 Buy, 1 Hold and 1 Sell.
• Fundamentals show a $1.53B market cap, a negative P/E and high beta (7.17); Q3 EPS was -$0.19 (beat estimates) but analysts expect a -0.92 EPS for the year, signaling continued losses and volatility.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) shares traded down 6.2% on Wednesday . The stock traded as low as $29.86 and last traded at $29.7880. 394,932 shares changed hands during trading, a decline of 89% from the average session volume of 3,589,733 shares. The stock had previously closed at $31.75.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NNE. Benchmark reaffirmed a "buy" rating on shares of Nano Nuclear Energy in a research report on Friday. Weiss Ratings restated a "sell (d-)" rating on shares of Nano Nuclear Energy in a research report on Wednesday, October 8th. Finally, BTIG Research initiated coverage on Nano Nuclear Energy in a research note on Thursday, August 28th. They set a "neutral" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.00.

Nano Nuclear Energy Price Performance

The firm's 50 day simple moving average is $37.24 and its two-hundred day simple moving average is $36.91. The firm has a market capitalization of $1.53 billion, a P/E ratio of -29.01 and a beta of 7.17.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last released its quarterly earnings data on Thursday, December 18th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.14. As a group, equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Nano Nuclear Energy by 445.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,291 shares of the company's stock worth $1,569,000 after purchasing an additional 48,424 shares in the last quarter. Swiss National Bank bought a new position in Nano Nuclear Energy in the first quarter worth about $1,220,000. Optimize Financial Inc bought a new position in Nano Nuclear Energy in the first quarter worth about $217,000. Deutsche Bank AG purchased a new stake in Nano Nuclear Energy in the first quarter worth about $479,000. Finally, Invesco Ltd. bought a new stake in Nano Nuclear Energy during the 1st quarter valued at approximately $320,000.

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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