Nano Nuclear Stock Soars On DOE Veteran Appointment: Retail Cheers

Shares of Nano Nuclear ($NNE), which makes micro-reactors, rallied nearly 27% on Thursday after the company named John G. Vonglis, formerly CFO of the U.S. Department of Energy (DOE), as Executive Director of Global Government Affairs, lifting retail sentiment.

Vonglish is also the acting director of DOE’s Advanced Research Projects Agency-Energy (APRA-E), and chairman of NANO Nuclear’s Executive Advisory Board for Strategic Initiatives.

Vonglis will help manage Nano Nuclear’s key government relationships as it proceeds through the development and licensure process for its advanced microreactors, other nuclear technologies and services, the company said.

“We are grateful that our strong position and growing reputation in the advanced nuclear technology industry allow us to attract top professionals and leaders like John,” James Walker, CEO and Head of Reactor Development of Nano, said in a statement.  

“His leadership will be crucial as we advance our microreactor designs, ‘ZEUS and ‘ODIN,’ to the next stages of development and continue our strategic dialogues with government agencies to further our growth and licensing efforts.”

Retail sentiment on the stock improved to ‘bullish (65/100) from ‘bearish’ (37/100) a week ago. Message volumes climbed to ‘extremely high’ levels.

Last month, HC Wainwright & Co analyst Sameer Joshi initiated coverage on Nano Nuclear, and kept a Buy rating with a price target of $50.  

Nano Nuclear stock, which was publicly listed in early May, has soared over 460% since then.

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