Shares of energy company Standard Nuclear (STDN.N) jump 17.5% to $9.9 after at least four brokerages initiate coverage with largely bullish calls as the research-quiet period ends.
STDN secured a valuation of $2.17 billion after its shares opened at $13.50 versus the offer price of $15 in its NYSE debut on July 16.
"We believe STDN is uniquely positioned to benefit from the commercialization of advanced nuclear buildout through its first-mover position in TRISO fuel, favorable industry and policy tailwinds," Stifel said.
The sector has seen many new reactor companies come to market, but pure-play, pick-and-shovel opportunities are still scarce, and Standard Nuclear offers investors this exposure to the advanced reactor buildout through the fuel, William Blair analysts said.
The buildout is capital-efficient with high-margin unit economics, which will position Standard Nuclear to capture 70% of a $3.8 billion TAM by 2035, William Blair analysts said.
Including session's move, the stock is down 34% since its debut.
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