Nano Nuclear Energy (NASDAQ:NNE) Trading Down 2.6% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price traded down 2.6% during trading on Thursday . The stock traded as low as $23.63 and last traded at $24.26. 718,306 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,382,454 shares. The stock had previously closed at $24.90.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th. Benchmark raised their price target on shares of Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Nano Nuclear Energy Stock Up 12.9 %

The stock has a fifty day simple moving average of $24.49 and a two-hundred day simple moving average of $18.65.

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

Institutional Investors Weigh In On Nano Nuclear Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp bought a new stake in shares of Nano Nuclear Energy during the third quarter worth about $718,000. Virtu Financial LLC acquired a new position in Nano Nuclear Energy during the 3rd quarter valued at about $933,000. Citizens Financial Group Inc. RI bought a new stake in Nano Nuclear Energy during the 2nd quarter worth approximately $2,016,000. XTX Topco Ltd purchased a new stake in shares of Nano Nuclear Energy in the third quarter worth approximately $305,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Nano Nuclear Energy in the second quarter valued at approximately $250,000.

About Nano Nuclear Energy

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.