Nano Nuclear Energy (NASDAQ:NNE) Shares Down 8.1% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s stock price traded down 8.1% during trading on Tuesday . The stock traded as low as $41.55 and last traded at $41.58. 2,110,422 shares traded hands during trading, a decline of 46% from the average session volume of 3,886,500 shares. The stock had previously closed at $45.24.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Northland Capmk raised shares of Nano Nuclear Energy to a “strong-buy” rating in a research note on Monday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano Nuclear Energy in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 target price on shares of Nano Nuclear Energy in a report on Friday, August 15th. Northland Securities began coverage on shares of Nano Nuclear Energy in a report on Monday, July 7th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, BTIG Research began coverage on shares of Nano Nuclear Energy in a report on Thursday, August 28th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Nano Nuclear Energy Price Performance

The company has a market cap of $2.09 billion, a P/E ratio of -44.71 and a beta of 6.80. The stock’s 50-day moving average is $41.27 and its two-hundred day moving average is $34.96.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Thursday, August 14th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. On average, analysts predict 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 and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Nano Nuclear Energy by 44.4% in the first quarter. Vanguard Group Inc. now owns 990,024 shares of the company’s stock worth $26,196,000 after buying an additional 304,405 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Nano Nuclear Energy in the second quarter worth about $31,935,000. Geode Capital Management LLC increased its position in Nano Nuclear Energy by 6.4% in the second quarter. Geode Capital Management LLC now owns 349,104 shares of the company’s stock worth $12,039,000 after buying an additional 20,899 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Nano Nuclear Energy by 64.0% in the third quarter. Exchange Traded Concepts LLC now owns 298,163 shares of the company’s stock worth $11,497,000 after buying an additional 116,387 shares in the last quarter. Finally, LPL Financial LLC increased its position in Nano Nuclear Energy by 30.7% in the first quarter. LPL Financial LLC now owns 136,270 shares of the company’s stock worth $3,606,000 after buying an additional 31,992 shares in the last quarter.

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.