Stock Markets
NANO Nuclear Energy stock target increased on positive momentum
On Tuesday, Benchmark, a prominent financial analysis firm, upgraded its stock price target for NANO Nuclear Energy (NASDAQ: NNE) to $39, a significant increase from the previous $15 target, while maintaining a Buy rating on the company’s shares. This adjustment reflects the company’s strong performance since its initial public offering (IPO) last month.
NANO Nuclear Energy has seen a substantial rise in its stock value, which has surged over 400% since the IPO price of $4 in May. The company’s growth has been fueled by several key developments, including the U.S. Senate’s overwhelming approval of the ADVANCE act last week and NANO’s recent acquisition of ALIP IP, which provides advanced cooling and heat transfer technology for its ODIN Small Modular Reactor (SMR).
The analyst from Benchmark noted that the positive legislative environment and strategic acquisition have contributed to reducing the cost of equity capital assumed in their financial model. As a result, the projected share count for the company’s 20-year Net Asset Value (NAV) calculation has been adjusted to 38 million shares, down from the previously estimated 55 million shares.
Moreover, the firm has lowered its discount rate assumption from 30% to 25%, indicating a more favorable view of NANO Nuclear Energy’s capital positioning. This revised discount rate, combined with the updated share count, has led to the new price target of $39.
The analyst reiterated a Buy rating for NANO Nuclear Energy, signaling confidence in the company’s prospects and its ability to sustain the strong momentum it has built since going public.
InvestingPro Insights
In light of Benchmark’s recent upgrade of NANO Nuclear Energy’s price target, InvestingPro data and tips offer additional perspectives for investors considering the company’s stock. The market capitalization of NANO Nuclear Energy stands at $596.25 million, reflecting the significant investor interest following its IPO and subsequent developments.
Despite a high Price / Book multiple of 89.85 as of the last twelve months leading up to Q2 2024, the company has demonstrated a remarkable price performance, with a one-week total return of nearly 80% and an even more impressive one-month return of over 374%.
Two InvestingPro Tips that could be particularly relevant for investors are the fact that NANO Nuclear Energy holds more cash than debt on its balance sheet, which may indicate a solid financial position, and the company’s significant return over the last week. These insights suggest that while the stock trades with high volatility and is in overbought territory according to the RSI, its recent performance has been strong.
For those looking to delve deeper into the financials and future prospects of NANO Nuclear Energy, InvestingPro provides additional tips. Interested investors can take advantage of a special offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With more tips available on InvestingPro, such as the company’s liquid assets exceeding its short-term obligations and its high return over various periods, investors can gain a comprehensive understanding of NANO Nuclear Energy’s market potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
(Reuters) -Private equity firm Insight Partners is on the brink of closing a new $10 billion-plus fund, roughly half the amount originally targeted, the Financial Times reported on Sunday, citing five people with knowledge of its plans.
Insight will not formally close its 13th fund until early next year, the report said, adding that the final figure may be closer to $12 billion.
Insight Partners declined to comment on the report.
The report said Insight is using a private equity-style structure to sell more than $1 billion worth of stakes in start-ups and to free up cash to return to investors.
One of the start-ups is Israeli cybersecurity firm Wiz, which had called off a $23 billion deal with Google parent Alphabet (NASDAQ:) in July, the report said.
New York-based Insight raised $20 billion for its 12th flagship fund in 2022, aiming to ramp up investments in software and technology companies.
JERUSALEM (Reuters) -Prime Minister Benjamin Netanyahu said Israel would inflict a “heavy price” on the Iran-aligned Houthis who control northern Yemen, after they reached central Israel with a missile on Sunday for the first time.
Houthi military spokesman Yahya Sarea said the group struck with a new hypersonic ballistic missile that travelled 2,040 km (1270 miles) in just 11 1/2 minutes.
After initially saying the missile had fallen in an open area, Israel’s military later said it had probably fragmented in the air, and that pieces of interceptors had landed in fields and near a railway station. Nobody was reported hurt.
Air raid sirens had sounded in Tel Aviv and across central Israel moments before the impact at around 6:35 a.m. local time (0335 GMT), sending residents running for shelter. Loud booms were heard.
Reuters saw smoke billowing in an open field in central Israel.
At a weekly cabinet meeting, Netanyahu said the Houthis should have known that Israel would exact a “heavy price” for attacks on Israel.
“Whoever needs a reminder of that is invited to visit the Hodeida port,” Netanyahu said, referring to an Israeli retaliatory air strike against Yemen in July for a Houthi drone that hit Tel Aviv.
The Houthis have fired missiles and drones at Israel repeatedly in what they say is solidarity with the Palestinians, since the Gaza war began with a Hamas attack on Israel in October.
The drone that hit Tel Aviv for the first time in July killed a man and wounded four people. Israeli air strikes in response on Houthi military targets near the port of Hodeidah killed six and wounded 80.
Previously, Houthi missiles have not penetrated deep into Israeli air space, with the only one reported to have hit Israeli territory falling in an open area near the Red Sea port of Eilat in March.
Israel should expect more strikes in the future “as we approach the first anniversary of the Oct. 7 operation, including responding to its aggression on the city of Hodeidah,” Sarea said.
The deputy head of the Houthi’s media office, Nasruddin Amer, said in a post on X on Sunday that the missile had reached Israel after “20 missiles failed to intercept” it, describing it as the “beginning”.
The Israeli military also said that 40 projectiles were fired towards Israel from Lebanon on Sunday and were either intercepted or landed in open areas.
“No injuries were reported,” the military said.
PARIS (Reuters) – Eight people have died trying to cross the Channel from France to England, French authorities said on Sunday, confirming earlier media reports.
This latest incident follows the deaths of 12 people earlier this month when their boat capsized in the Channel on its way to Britain and highlights the pressure on the British and French governments to find ways to tackle the boat crossings.
Jacques Billant, the Prefect of the Pas-de-Calais region, said that rescue crews were alerted that a boat with 59 people onboard was in difficulty in waters off the coast of Ambleteuse in the Pas-de-Calais area.
“A new drama took place around one in the morning and we deplore the death of eight people,” he told a news conference, adding that the other 51 onboard were now in the care of rescue and medical crews.
The dead were men from Eritrea, Sudan, Syria, Egypt, Iran and Afghanistan, he added.
The Channel is one of the world’s busiest shipping lanes and currents are strong, which makes crossing on small boats dangerous.
The latest incident brings to 46 the number of people who have died trying to cross the Channel from France since the start of the year, Billant said.
On September 14 alone there were eight attempts to cross the Channel from France and some 200 migrants were rescued, he said.
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