Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 8.2% - Time to Sell?

Key Points

• Nano Nuclear Energy's stock price dropped by 8.2%, closing at $48.41 after trading as low as $46.95.
• Equities research analysts have mixed outlooks, with Weiss Ratings issuing a "sell" rating while others like HC Wainwright maintain a "buy" rating with a target price of $50.00.
• Institutional investors have shown interest, with several acquiring new positions in Nano Nuclear Energy during the first quarter of the year, reflecting ongoing market activity.

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price was down 8.2% during trading on Thursday . The company traded as low as $46.95 and last traded at $48.41. Approximately 5,799,231 shares were traded during trading, an increase of 48% from the average daily volume of 3,917,431 shares. The stock had previously closed at $52.72.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NNE shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. Northland Securities started coverage on Nano Nuclear Energy in a report on Monday, July 7th. They set an "outperform" rating and a $40.00 target price on the stock. BTIG Research started coverage on Nano Nuclear Energy in a report on Thursday, August 28th. They set a "neutral" rating on the stock. LADENBURG THALM/SH SH started coverage on Nano Nuclear Energy in a report on Thursday, July 10th. They set a "buy" rating and a $51.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Nano Nuclear Energy presently has an average rating of "Moderate Buy" and a consensus price target of $51.75.

Nano Nuclear Energy Stock Down 8.2%

The firm has a fifty day moving average price of $38.23 and a 200-day moving average price of $32.76. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -52.05 and a beta of 6.80.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.08. Equities research 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 added to or reduced their stakes in the company. North Capital Inc. acquired a new position in Nano Nuclear Energy in the first quarter valued at $26,000. Marshall Investment Management LLC acquired a new position in Nano Nuclear Energy in the first quarter valued at $27,000. KBC Group NV purchased a new position in Nano Nuclear Energy in the first quarter valued at about $31,000. Stone House Investment Management LLC purchased a new position in Nano Nuclear Energy in the first quarter valued at about $40,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Nano Nuclear Energy in the first quarter valued at about $51,000.

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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