Nano Nuclear Energy (NASDAQ:NNE) Trading Down 11.6% – What’s Next?

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares fell 11.6% during trading on Wednesday . The stock traded as low as $26.61 and last traded at $27.01. 1,160,564 shares were traded during mid-day trading, a decline of 45% from the average session volume of 2,109,031 shares. The stock had previously closed at $30.57.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NNE. Weiss Ratings reissued a “sell (d-)” rating on shares of Nano Nuclear Energy in a research report on Tuesday, April 21st. Wall Street Zen raised Nano Nuclear Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Benchmark reissued a “buy” rating on shares of Nano Nuclear Energy in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Nano Nuclear Energy Stock Performance

The company has a 50 day moving average of $24.62 and a two-hundred day moving average of $27.64. The stock has a market capitalization of $1.36 billion, a PE ratio of -37.91 and a beta of 5.05.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.08. As a group, research analysts predict that Nano Nuclear Energy Inc. will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Nano Nuclear Energy by 11,676.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,726,250 shares of the company’s stock worth $66,564,000 after buying an additional 1,711,592 shares during the last quarter. Weiss Asset Management LP purchased a new position in Nano Nuclear Energy during the 4th quarter worth $38,224,000. Ghisallo Capital Management LLC purchased a new position in Nano Nuclear Energy during the 4th quarter worth $38,224,000. Van ECK Associates Corp grew its stake in Nano Nuclear Energy by 65.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,598,280 shares of the company’s stock worth $100,190,000 after buying an additional 1,030,262 shares during the last quarter. Finally, Regal Partners Ltd purchased a new position in Nano Nuclear Energy during the 4th quarter worth $23,535,000.

Nano Nuclear Energy Company Profile

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.