Nano Nuclear Energy (NASDAQ:NNE) Shares Down 1.4% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was down 1.4% during trading on Tuesday . The stock traded as low as $30.24 and last traded at $32.09. Approximately 2,694,935 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 4,292,731 shares. The stock had previously closed at $32.56.

Wall Street Analyst Weigh In

A number of research firms have commented on NNE. Benchmark upped their price target on 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 issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th.

Nano Nuclear Energy Trading Down 4.8 %

The business’s fifty day moving average is $24.71 and its 200-day moving average is $18.87.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. As a group, analysts forecast that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of Nano Nuclear Energy in the third quarter worth approximately $25,000. Barclays PLC purchased a new position in Nano Nuclear Energy during the 3rd quarter valued at about $76,000. Commonwealth Equity Services LLC purchased a new stake in Nano Nuclear Energy in the second quarter worth $250,000. XTX Topco Ltd bought a new stake in shares of Nano Nuclear Energy during the 3rd quarter valued at about $305,000. Finally, State Street Corp bought a new position in shares of Nano Nuclear Energy in the 3rd quarter worth approximately $718,000.

Nano Nuclear Energy Company Profile

NANO Nuclear Energy Inc operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses.