Nano Nuclear Energy (NASDAQ:NNE) Stock Price Down 5.8% – Time to Sell?

Nano Nuclear Energy Inc. (NASDAQ:NNE)’s share price was down 5.8% during mid-day trading on Friday . The stock traded as low as $24.73 and last traded at $25.27. Approximately 1,358,657 shares traded hands during trading, a decline of 68% from the average daily volume of 4,312,994 shares. The stock had previously closed at $26.84.

Analyst Ratings Changes

Several research firms recently commented on NNE. Benchmark upped their target price on Nano Nuclear Energy from $39.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated 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 Stock Performance

The stock has a 50-day moving average price of $25.17 and a 200-day moving average price of $19.08.

Nano Nuclear Energy (NASDAQ:NNE) last released its quarterly earnings results on Monday, December 30th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. As a group, research analysts predict that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Institutional Trading of Nano Nuclear Energy

Several institutional investors have recently added to or reduced their stakes in NNE. JPMorgan Chase & Co. bought a new stake in Nano Nuclear Energy in the third quarter valued at $25,000. Barclays PLC bought a new stake in Nano Nuclear Energy in the 3rd quarter valued at about $76,000. Fulton Bank N.A. acquired a new position in Nano Nuclear Energy during the 4th quarter valued at about $213,000. Commonwealth Equity Services LLC bought a new position in Nano Nuclear Energy in the 2nd quarter worth about $250,000. Finally, XTX Topco Ltd acquired a new stake in shares of Nano Nuclear Energy in the third quarter valued at approximately $305,000.

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.