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