Nano Nuclear Energy (NASDAQ:NNE) Trading Down 3.8% - Time to Sell?

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) traded down 3.8% during mid-day trading on Friday . The stock traded as low as $34.51 and last traded at $34.30. 1,704,064 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 3,891,243 shares. The stock had previously closed at $35.66.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and set a $50.00 target price on shares of Nano Nuclear Energy in a report on Monday, March 31st.

Nano Nuclear Energy Stock Performance

The stock has a market cap of $1.44 billion and a price-to-earnings ratio of -38.01. The firm's 50-day moving average price is $28.69 and its two-hundred day moving average price is $28.49.

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

Institutional Trading of Nano Nuclear Energy

A number of large investors have recently made changes to their positions in the stock. Anson Funds Management LP purchased a new stake in shares of Nano Nuclear Energy during the fourth quarter valued at approximately $20,746,000. Hudson Bay Capital Management LP acquired a new stake in shares of Nano Nuclear Energy during the 4th quarter worth approximately $19,642,000. Vanguard Group Inc. lifted its holdings in shares of Nano Nuclear Energy by 2,838.5% in the 4th quarter. Vanguard Group Inc. now owns 685,619 shares of the company's stock worth $17,068,000 after purchasing an additional 662,287 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Nano Nuclear Energy during the fourth quarter worth about $4,544,000. Finally, Citizens Financial Group Inc. RI lifted its position in Nano Nuclear Energy by 23.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 900,000 shares of the company's stock valued at $22,406,000 after purchasing an additional 171,000 shares during the last quarter.

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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