Nano Nuclear Energy (NASDAQ:NNE) Shares Down 7.3% - Here's Why

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report) traded down 7.3% on Monday . The stock traded as low as $26.40 and last traded at $26.83. 1,643,504 shares traded hands during trading, a decline of 74% from the average session volume of 6,430,790 shares. The stock had previously closed at $28.94.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark boosted their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Up 4.5 %

The stock's 50-day simple moving average is $30.50 and its 200 day simple moving average is $22.39. The company has a market cap of $1.07 billion and a price-to-earnings ratio of -70.22.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.09. On average, sell-side analysts expect that Nano Nuclear Energy Inc. will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Large investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at $200,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Nano Nuclear Energy during the fourth quarter worth about $774,000. Canal Insurance CO purchased a new position in Nano Nuclear Energy during the fourth quarter worth about $622,000. State Street Corp purchased a new position in Nano Nuclear Energy during the third quarter worth about $718,000. Finally, Powell Investment Advisors LLC purchased a new position in shares of Nano Nuclear Energy in the 4th quarter worth about $602,000.

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.