Nano Nuclear Energy (NASDAQ:NNE) Shares Down 16.4% – Here’s What Happened

Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE) traded down 16.4% during trading on Wednesday . The company traded as low as $25.10 and last traded at $25.28. 2,551,448 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 4,427,847 shares. The stock had previously closed at $30.24.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NNE shares. Benchmark increased their price target on Nano Nuclear Energy from $39.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Nano Nuclear Energy in a research note on Wednesday, November 27th.

Nano Nuclear Energy Stock Performance

The company has a 50 day simple moving average of $24.89 and a 200-day simple moving average of $18.98.

Nano Nuclear Energy (NASDAQ:NNE) last issued its quarterly earnings data on Monday, December 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. On average, sell-side analysts forecast that Nano Nuclear Energy Inc. will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Nano Nuclear Energy

Several institutional investors and hedge funds have recently bought and sold shares of NNE. State Street Corp purchased a new position in shares of Nano Nuclear Energy during the third quarter valued at about $718,000. Virtu Financial LLC bought a new stake in Nano Nuclear Energy in the third quarter worth about $933,000. Citizens Financial Group Inc. RI bought a new stake in shares of 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 during the third quarter valued at $305,000. Finally, Commonwealth Equity Services LLC bought a new position in Nano Nuclear Energy in the 2nd quarter worth about $250,000.

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.