Nano Nuclear Stock Slides After Fiscal 2024 Losses Widen: Retail Turns Contrarian On 2025 Outlook

Shares of Nano Nuclear Energy Inc (NNE) were in the spotlight on Monday after the company announced its fiscal year 2024 results and disclosed its 2025 outlook.

Nano Nuclear’s net loss widened to $10.15 million compared to a loss of $6.25 million in the previous fiscal. Earnings loss per share stood at $0.39 versus $0.28 last year.

Following the announcement, shares of the firm dipped over 7% at the opening bell on Monday.

Chairman Jay Yu highlighted that in just over seven months as a public company, Nano Nuclear grew its current cash position to over $120 million.

“We have pursued and signed numerous agreements and memoranda of understanding with companies in the data center, artificial intelligence, vertical farming, and spent fuel recycling industries as well as governmental entities in Africa,” Yu said.

“We have expanded our key relationships with the United States Department of Energy (DOE) and obtained key government technological and funding support for our initiatives,” he added.

As part of its 2025 outlook, Nano Nuclear said LIS Technologies, Inc., supported by the firm, will begin work with the DOE to participate as one of six contract awardees in the DOE’s Low-Enriched Uranium (LEU) Enrichment Acquisition Program.

The company also plans to highlight the high Technology Readiness Level (TRL) of its newly acquired patented MMR and Pylon reactor technologies as well as submit the MMR reactor for several grants and development opportunities.

Meanwhile, Nano Nuclear will continue preparations for the Pylon reactor demonstration at the Idaho National Laboratory’s DOME facility by 2027.

Following the development, retail sentiment on Stocktwits jumped into the ‘bullish’ territory (74/100) from ‘neutral’ a day ago.

NNE’s Sentiment Meter and Message Volume as of 9:34 a.m. ET on Dec. 30, 2024 | Source: Stocktwits

Multiple Stocktwits users believe Nano Nuclear is a good long-term hold.

Notably, shares of Nano Nuclear have gained a whopping 380% since the beginning of the year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.