Nano Nuclear Energy (NASDAQ:NNE) Shares Gap Down – Here’s Why

Nano Nuclear Energy Inc. (NASDAQ:NNE) shares gapped down before the market opened on Monday . The stock had previously closed at $27.25, but opened at $25.93. Nano Nuclear Energy shares last traded at $26.70, with a volume of 351,092 shares.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Nano Nuclear Energy in a research report on Monday, March 31st.

Nano Nuclear Energy Stock Down 3.5%

The stock has a market cap of $960.56 million and a PE ratio of -63.20. The stock has a fifty day moving average of $25.00 and a 200-day moving average of $26.94.

Nano Nuclear Energy (NASDAQ:NNE) last announced its earnings results on Thursday, May 15th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.46). Equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano Nuclear Energy

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new position in Nano Nuclear Energy during the 3rd quarter worth $25,000. North Capital Inc. acquired a new position in shares of Nano Nuclear Energy during the first quarter worth about $26,000. Marshall Investment Management LLC acquired a new position in shares of Nano Nuclear Energy during the first quarter worth about $27,000. Ameriflex Group Inc. purchased a new position in Nano Nuclear Energy during the fourth quarter worth about $29,000. Finally, New York State Common Retirement Fund purchased a new stake in Nano Nuclear Energy in the 4th quarter valued at approximately $30,000.

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.