Nano Nuclear Energy (NASDAQ:NNE) Shares Down 16.4% – Should You Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price was down 16.4% during mid-day trading on Wednesday . The stock traded as low as $25.10 and last traded at $25.28. Approximately 2,551,448 shares traded hands during trading, a decline of 42% from the average daily volume of 4,427,847 shares. The stock had previously closed at $30.24.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark lifted their price objective on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Stock Down 4.4 %

The firm’s fifty day moving average is $25.30 and its 200-day moving average is $19.12.

Nano Nuclear Energy (NASDAQ:NNE) last released its earnings results on Monday, December 30th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. Equities analysts predict that Nano Nuclear Energy Inc. will post -0.46 EPS for the current fiscal year.

Institutional Trading of Nano Nuclear Energy

Several hedge funds have recently bought and sold shares of NNE. Citizens Financial Group Inc. RI lifted its stake in shares of Nano Nuclear Energy by 747.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 729,000 shares of the company’s stock worth $10,505,000 after acquiring an additional 643,000 shares during the period. Geode Capital Management LLC acquired a new stake in Nano Nuclear Energy in the third quarter worth approximately $954,000. Virtu Financial LLC bought a new position in Nano Nuclear Energy during the 3rd quarter valued at $933,000. State Street Corp bought a new position in Nano Nuclear Energy during the 3rd quarter valued at $718,000. Finally, XTX Topco Ltd acquired a new position in shares of Nano Nuclear Energy during the 3rd quarter valued at $305,000.

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.