Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 10.4% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price dropped 10.4% during trading on Monday . The company traded as low as $23.82 and last traded at $24.12. Approximately 1,500,342 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 3,378,800 shares. The stock had previously closed at $26.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NNE. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, November 27th. Benchmark upped their target price 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.

Nano Nuclear Energy Stock Performance

The business has a 50-day moving average of $24.15 and a two-hundred day moving average of $18.21.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Monday, December 30th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.08. On average, equities analysts expect that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Nano Nuclear Energy during the third quarter worth about $933,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Nano Nuclear Energy in the second quarter valued at approximately $2,016,000. XTX Topco Ltd purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter worth $305,000. Commonwealth Equity Services LLC acquired a new position in shares of Nano Nuclear Energy during the 2nd quarter valued at about $250,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Nano Nuclear Energy in the third quarter valued at about $25,000.

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.