Nano Nuclear Energy (NASDAQ:NNE) Shares Down 7.7% - Here's What Happened

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s share price traded down 7.7% during mid-day trading on Tuesday . The stock traded as low as $31.87 and last traded at $31.83. 1,642,941 shares were traded during mid-day trading, a decline of 57% from the average session volume of 3,865,226 shares. The stock had previously closed at $34.49.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a "buy" rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Monday, March 31st.

Nano Nuclear Energy Trading Up 1.4%

The firm has a 50 day moving average price of $29.57 and a 200-day moving average price of $28.73. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -36.21 and a beta of 7.34.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.46). As a group, equities analysts expect that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nano Nuclear Energy

Institutional investors have recently made changes to their positions in the business. North Capital Inc. acquired a new position in Nano Nuclear Energy in the first quarter worth about $26,000. Marshall Investment Management LLC bought a new position in Nano Nuclear Energy during the 1st quarter worth approximately $27,000. Ameriflex Group Inc. acquired a new position in shares of Nano Nuclear Energy in the 4th quarter worth approximately $29,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $30,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter valued at approximately $30,000.

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.