Analyst Initiates Coverage on Nano Nuclear Energy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 10h ago
0mins
Source: Fool
- Stock Surge: Following the initiation of coverage by an analyst, Nano Nuclear Energy (NNE) saw its stock rise by 7% on the day, significantly outperforming the S&P 500's 0.4% increase, indicating strong investor confidence.
- Buy Rating: Analyst Nate Pendleton from Texas Capital Securities assigned a buy rating to Nano, setting a price target of $49 per share, nearly 40% above its recent closing price, reflecting optimistic growth expectations.
- Product Strength: Pendleton praised Nano's flagship Kronos MMR micro-reactor for its efficiency and safety, noting it does not rely on high-assay low-enriched uranium for fuel, which enhances its competitive edge in the market.
- Market Potential: Although Nano Nuclear Energy is still pre-revenue, Pendleton believes the company has a strong chance of becoming a leader in next-generation nuclear power, especially amid the current U.S. nuclear energy push, though investments should be approached with caution due to inherent risks.
Analyst Views on NNE
Wall Street analysts forecast NNE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NNE is 46.67 USD with a low forecast of 45.00 USD and a high forecast of 50.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 32.790
Low
45.00
Averages
46.67
High
50.00
Current: 32.790
Low
45.00
Averages
46.67
High
50.00
About NNE
Nano Nuclear Energy Inc. is an advanced technology-driven nuclear energy company. Its business lines include cutting edge portable and other microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space and nuclear industry consulting services. Its reactor products in development include ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. It also develops patented stationary KRONOS Micro Modular Reactor (MMR) Energy System and space focused Pylon Transportable Reactor Platform. Its subsidiaries include Advanced Fuel Transportation Inc. (AFT), HALEU Energy Fuel Inc., and NANO Nuclear Space Inc. (NNS). NNS focuses on applications, such as the LOKI MMR system and other power systems. AFT provides commercial quantities of HALEU fuel to small modular reactors, military, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
