Nano Nuclear Energy (NNE) is an early-stage nuclear energy company that's researching and developing smaller, cheaper, and safer portable clean energy solutions. Through its two subsidiaries, Advanced Fuel Transportation Inc. (AFT) and HALEU Energy Fuel Inc. (HEF), the company operates across four business lines: portable microreactor technology; nuclear fuel fabrication; nuclear fuel transportation; and nuclear industry consulting services.
The company is developing portable, on-demand capable advanced nuclear microreactors under the names ZEUS, a solid battery core reactor, and ODIN, a low-pressure coolant reactor. NNE is also involved, in coordination with the Department of Energy (DOE), in developing a domestic high-assay low-enriched uranium (HALEU) fuel facility supply for not only its own reactors, but also to the advanced nuclear reactor industry.
About NNE Stock
Incorporated in 2022, NNE is headquartered in New York, and carries a market cap of $313 million. The nuclear energy company is new to Wall Street, with its initial public offering taking place as recently as May.
NNE stock has been volatile in its brief time on the Nasdaq. The stock is down more than 71% from its June highs north of $37 per share, but still trades about 68% above August's near-term lows.
Recently, Nano Nuclear Energy was added to the broad-market benchmark Russell 3000 Index, which could draw some institutional buying activity.
Nano Nuclear Energy Reports Q3 Results
For the quarter ended June 30, Nano Nuclear Energy reported an operating loss of $4.67 million, or $0.17 per share, wider than its year-ago loss of $2.7 million, or $0.12 per share. The loss was primarily driven by higher research and development costs, which more than tripled from the year-ago quarter to exceed $2 million.
NNE ended the quarter with cash and equivalents of $13.7 million, and total liabilities of $3.4 million.
Investors should note that Nano Nuclear Energy is a pre-revenue company, and like other pre-revenue companies, it carries significant risk.
Nano Nuclear Goes Global With GNS Pact
Last week, Nano Nuclear Energy announced a contract with German nuclear waste company GNS Gesellschaft für Nuklear-Service. The agreement focuses on developing an advanced HALEU transportation system using NNE's fuel transportation basket design. The collaboration will include a study to transport various HALEU nuclear fuel types, such as uranium oxide, TRISO particles, uranium-zirconium hydride, uranium mononitride, and salt fuel for molten salt reactors.
"This agreement with GNS represents a critical step towards our goal of achieving full self-sufficiency in transporting nuclear fuel across the country for each of our deployed microreactor systems," said CEO James Walker in a statement accompanying the news. “By developing our own optimized transportation solutions, we are not only ensuring that we can independently manage, in a vertically integrated manner, the transport of fuel to and from our microreactors in development, but we are also positioning NANO Nuclear as a leader in providing these capabilities to the broader nuclear industry.”
What's the Analyst Forecast for NNE Stock?
Currently, there's just a single analyst covering this nuclear energy stock. Benchmark's Michael Legg rates NNE a “Strong Buy,” with his price target of $39 indicating expected upside of more than 268% from Thursday's close.
