Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 3.7% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price was down 3.7% during trading on Tuesday . The company traded as low as $23.34 and last traded at $23.90. Approximately 931,365 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 3,373,110 shares. The stock had previously closed at $24.83.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NNE. Benchmark boosted their target price 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 reaffirmed a “buy” rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a report on Wednesday, November 27th.

Nano Nuclear Energy Trading Up 0.3 %

The business’s fifty day moving average is $24.22 and its 200 day moving average is $18.49.

Nano Nuclear Energy (NASDAQ:NNE) last announced its quarterly earnings results on Monday, December 30th. The company reported ($0.08) EPS 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 year.

Hedge Funds Weigh In On Nano Nuclear Energy

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Nano Nuclear Energy in the 3rd quarter valued at $25,000. Barclays PLC purchased a new position in shares of Nano Nuclear Energy during the 3rd quarter worth about $76,000. Commonwealth Equity Services LLC acquired a new stake in shares of Nano Nuclear Energy in the second quarter worth approximately $250,000. XTX Topco Ltd acquired a new position in Nano Nuclear Energy during the third quarter worth approximately $305,000. Finally, State Street Corp acquired a new position in shares of Nano Nuclear Energy in the 3rd quarter valued at $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.