Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 1.7% - Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) was down 1.7% during trading on Monday . The company traded as low as $32.11 and last traded at $33.05. Approximately 650,412 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,808,249 shares. The stock had previously closed at $33.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NNE shares. Northland Securities started coverage on Nano Nuclear Energy in a report on Monday. They issued an "outperform" rating and a $40.00 price objective for the company. 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.

Nano Nuclear Energy Stock Up 1.6%

The firm has a fifty day simple moving average of $30.23 and a 200-day simple moving average of $28.93. The company has a market capitalization of $1.42 billion, a P/E ratio of -37.52 and a beta of 7.29.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.46). On average, sell-side analysts predict that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several large investors have recently modified their holdings of NNE. Anson Funds Management LP acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $20,746,000. Hudson Bay Capital Management LP acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $19,642,000. Vanguard Group Inc. boosted its position in shares of 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 period. Nuveen Asset Management LLC acquired a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $4,544,000. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Nano Nuclear Energy by 23.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company's stock worth $22,406,000 after buying an additional 171,000 shares during the period.

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.