BTIG initiates coverage on NANO Energy with 'neutral' rating

** BTIG initiates coverage on nuclear technology company NANO Nuclear Energy NNE.O with "neutral" rating

** BTIG did not provide a PT for NNE; shares of the company up nearly 1% at $33.20 premarket

** "We like NNE's micro reactor solution which should compete against other small modular reactor (SMR) technologies, but should also provide NNE smaller commercial behind the meter (BtM) opportunities," BTIG says

** Brokerage says NNE is positioned to benefit from its potential ability to source and sell high-assay low-enriched uranium fuel, should SMR adoption accelerate

** "We initiate with a Neutral as NNE's tech is still in the demonstration phase," BTIG says, adding that it does not expect NNE to generate meaningful revenue until mid-2030s

** 3 of 4 brokerages rate the stock "buy" and 1 "sell" or lower, their median PT is $42.5 - data complied by LSEG

** As of last close, stock up ~32% YTD