Nano Nuclear Energy (NASDAQ:NNE) Shares Down 8.8% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded down 8.8% on Wednesday . The stock traded as low as $32.18 and last traded at $31.81. 4,024,240 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 3,724,586 shares. The stock had previously closed at $34.89.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Trading Down 8.6%

The firm has a market cap of $1.20 billion and a price-to-earnings ratio of -77.78. The company’s 50-day moving average is $25.13 and its 200-day moving average is $27.37.

Nano Nuclear Energy (NASDAQ:NNE) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.46). Equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

A number of hedge funds have recently added to or reduced their stakes in NNE. JPMorgan Chase & Co. acquired a new stake in Nano Nuclear Energy in the third quarter valued at approximately $25,000. North Capital Inc. acquired a new stake in Nano Nuclear Energy in the first quarter valued at approximately $26,000. Marshall Investment Management LLC acquired a new stake in Nano Nuclear Energy in the first quarter valued at approximately $27,000. Ameriflex Group Inc. acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at approximately $29,000. Finally, New York State Common Retirement Fund acquired a new stake in Nano Nuclear Energy in the fourth quarter valued at approximately $30,000.

About Nano Nuclear Energy

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.