Hadron Energy (HDRN)
Market Price (6/7/2026): $2.67 | Market Cap: $190.9 MilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Hadron Energy (HDRN)
Market Price (6/7/2026): $2.67Market Cap: $190.9 MilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Hydrogen Economy, Battery Technology & Metals, and Energy Transition & Decarbonization. Themes include Green Hydrogen Production, Show more. | Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -111% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -31 Mil High stock price volatilityVol 12M is 147% Key risksHDRN key risks include [1] the failure to complete an initial business combination before its mandated deadline, Show more. |
| Megatrend and thematic driversMegatrends include Hydrogen Economy, Battery Technology & Metals, and Energy Transition & Decarbonization. Themes include Green Hydrogen Production, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -111% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -31 Mil |
| High stock price volatilityVol 12M is 147% |
| Key risksHDRN key risks include [1] the failure to complete an initial business combination before its mandated deadline, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Hadron Energy (HDRN) stock has lost about 35% since it went public on 5/26/2026 because of the following key factors:
1. Significant Share Redemptions during SPAC Merger. A substantial lack of investor confidence was indicated by the redemption of approximately 84% of GigCapital7's public shares for cash at $10.71 per share, totaling $180.3 million, prior to the Hadron Energy business combination closing. This left a significantly reduced public float and likely contributed to initial selling pressure, causing the stock to plunge 42% within its first week of trading.
2. Perceived Overvaluation at IPO. Hadron Energy commenced trading with high valuation metrics that the market subsequently corrected. As of May 30, 2026, the company's Price-to-Earnings (P/E) ratio stood at 1,534.3 and its Price/Earnings to Growth (PEG) ratio at 28.38, both considerably exceeding industry averages. These elevated ratios suggested the stock was overvalued relative to its earnings and expected growth, prompting a post-IPO market adjustment.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
2/28/2026 to 6/6/2026| Return | Correlation | |
|---|---|---|
| HDRN | ||
| Market (SPY) | 7.8% | 9.8% |
| Sector (XLI) | -1.4% | 43.6% |
Fundamental Drivers
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Market Drivers
11/30/2025 to 6/6/2026| Return | Correlation | |
|---|---|---|
| HDRN | ||
| Market (SPY) | 8.5% | 9.8% |
| Sector (XLI) | 14.0% | 43.6% |
Fundamental Drivers
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Market Drivers
5/31/2025 to 6/6/2026| Return | Correlation | |
|---|---|---|
| HDRN | ||
| Market (SPY) | 26.6% | 9.8% |
| Sector (XLI) | 23.6% | 43.6% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 6/6/2026| Return | Correlation | |
|---|---|---|
| HDRN | ||
| Market (SPY) | 83.4% | 9.8% |
| Sector (XLI) | 88.1% | 43.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HDRN Return | - | - | - | - | - | -28% | -28% |
| Peers Return | 5% | -15% | 63% | 57% | 28% | -9% | 167% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| HDRN Win Rate | - | - | - | - | - | 0% | |
| Peers Win Rate | 50% | 39% | 64% | 58% | 64% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 67% | |
Max Drawdowns [4] | |||||||
| HDRN Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -19% | -36% | -20% | -17% | -30% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GGG, GHM, GCDT, HDRN, PH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/5/2026 (YTD)
How Low Can It Go
HDRN has limited trading history. Below is the Industrials sector ETF (XLI) in its place.
| Event | XLI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.8% | -18.8% |
| % Gain to Breakeven | 18.8% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -11.7% | -9.5% |
| % Gain to Breakeven | 13.2% | 10.5% |
| Time to Breakeven | 45 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.1% | -24.5% |
| % Gain to Breakeven | 25.1% | 32.4% |
| Time to Breakeven | 125 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.6% | -33.7% |
| % Gain to Breakeven | 71.2% | 50.9% |
| Time to Breakeven | 231 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.7% | -19.2% |
| % Gain to Breakeven | 31.1% | 23.8% |
| Time to Breakeven | 120 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.1% | -12.2% |
| % Gain to Breakeven | 12.5% | 13.9% |
| Time to Breakeven | 51 days | 62 days |
In The Past
State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
HDRN has limited trading history. Below is the Industrials sector ETF (XLI) in its place.
| Event | XLI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.1% | -24.5% |
| % Gain to Breakeven | 25.1% | 32.4% |
| Time to Breakeven | 125 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.6% | -33.7% |
| % Gain to Breakeven | 71.2% | 50.9% |
| Time to Breakeven | 231 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.7% | -19.2% |
| % Gain to Breakeven | 31.1% | 23.8% |
| Time to Breakeven | 120 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.5% | -17.9% |
| % Gain to Breakeven | 29.0% | 21.8% |
| Time to Breakeven | 114 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.5% | -53.4% |
| % Gain to Breakeven | 153.2% | 114.4% |
| Time to Breakeven | 700 days | 1085 days |
In The Past
State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Hadron Energy (HDRN)
AI Analysis | Feedback
HTML output for Hadron Energy (HDRN): nullAI Analysis | Feedback
- Business Combination Facilitation: Hadron Energy's primary service is to identify and complete a merger, acquisition, or other business combination with one or more private operating businesses, bringing them public.
AI Analysis | Feedback
Hadron Energy (HDRN) is a Special Purpose Acquisition Company (SPAC). As a blank check company, it has not yet completed a business combination and does not operate any business that sells products or services. Therefore, it does not currently have any major customers.
AI Analysis | Feedback
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Samuel Gibson, Chief Executive Officer
Samuel Gibson is the Founder and Chief Executive Officer of Hadron Energy.
Rahul Shukla, Chief Financial Officer
Rahul Shukla previously served as Chief Accounting Officer at Stem, Inc., a publicly traded clean-energy software company, where he oversaw global accounting teams, led audit and SOX remediation efforts, managed complex technical accounting matters, and supported a $700 million acquisition integration. He also held senior finance leadership roles at Natera, Inc. and eHealth, Inc., supporting multiple public offerings that raised over $1.6 billion in capital.
Dr. Avi Katz, Executive Chairman
Dr. Avi Katz is the Founder, Chairman, and CEO of GigCapital Global and serves as Executive Chairman of Hadron Energy Inc. A serial entrepreneur and angel investor with nearly 40 years of experience, Dr. Katz founded GigOptix, a fabless semiconductor company, took it public on the NYSE in 2011, and grew it through ten strategic acquisitions before selling it in 2017 for $250 million to Integrated Device Technology. Integrated Device Technology was later acquired by Renesas for $6.7 billion. Following this, Dr. Katz launched GigCapital Global, a Private-to-Public Equity platform utilizing the SPAC methodology, and has since deployed nine vehicles on Nasdaq and NYSE.
Ken Canavan, Chief Operating Officer
Ken Canavan brings nearly four decades of experience in nuclear operations and advanced reactor development to Hadron Energy. He most recently served as President and CEO of E4 Carolinas. Prior to that, he was Chief Technology Officer and Vice President of Nuclear Technology at Westinghouse Electric Company, where he led the Global Technology Office and oversaw major innovation programs, including the eVinci Microreactor program. Earlier in his career, he spent over 15 years at the Electric Power Research Institute (EPRI) as Director of Nuclear Plant Technology.
Dr. Raluca Dinu, Director
Dr. Raluca Dinu is a Managing Partner at GigCapital Global and a Director of Hadron Energy. She held a General Manager/Vice President position at Integrated Device Technology, Inc., which was acquired by Renesas Electronics Corp for $6.7 billion. Prior to this, she was Chief Operations Officer of GigPeak, where she led 10 mergers and acquisitions before its acquisition by Integrated Device Technology in April 2017.
AI Analysis | Feedback
The key risks for Hadron Energy (HDRN) are primarily associated with its nature as a Special Purpose Acquisition Company (SPAC) that has not yet identified a target business combination.
- Failure to complete an initial business combination: Hadron Energy is a blank check company formed for the purpose of effecting a business combination. The company has not yet selected any specific business combination target, and its efforts to date have been limited to organizational activities. If Hadron Energy is unable to identify and successfully complete an initial business combination within the timeframe specified in its organizational documents (typically a fixed period, though not explicitly stated in the background, it's a standard SPAC feature), it would likely be forced to liquidate and return the funds held in trust to its public shareholders, potentially at a loss.
- Difficulty in identifying and acquiring a suitable target business: The company's success is dependent on its ability to identify and consummate an initial business combination with one or more businesses. While Hadron Energy intends to focus on specific industries (TMT, AI/ML, cybersecurity, MedTech, semiconductors, and sustainable industries) and leverage its management team's experience, there is no guarantee that it will be able to locate a suitable acquisition candidate or successfully negotiate and complete a transaction. The market for attractive target businesses can be highly competitive, and potential targets may prefer to remain private, pursue alternative transactions, or seek combinations with other SPACs or strategic buyers.
AI Analysis | Feedback
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AI Analysis | Feedback
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Hadron Energy (HDRN) completed its business combination with GigCapital7 Corp. on May 22, 2026, and is now trading on Nasdaq as a developer of light-water micro-modular reactors (MMRs). The company's primary product is the Halo MMR, a 10-megawatt electric (MWe) transportable reactor designed to provide continuous, carbon-free baseload power. Expected drivers of future revenue growth for Hadron Energy over the next 2-3 years include: * **Commercial deployment and sales of the Halo Micro-Modular Reactor (MMR).** As the company advances its Halo MMR through design, regulatory, and customer-deployment milestones, revenue will be generated from the sale and installation of these reactors. * **Expansion into target markets.** Hadron Energy is strategically focused on deploying its MMR technology for high-demand applications such as AI data centers, industrial hubs, remote communities, and critical infrastructure. Successful penetration and growth within these sectors will be a key revenue driver. * **Leveraging strategic collaborations and deployment frameworks.** The company has already established a multi-project deployment framework with Smartland Energy for evaluating Halo MMR deployment across up to five projects, representing an aggregate capacity demand of approximately 1.8 gigawatts electric. Forming and executing similar partnerships will be crucial for scaling revenue. * **Achievement of regulatory milestones.** Progressing with the U.S. Nuclear Regulatory Commission (NRC) on the licensing pathway for the Halo MMR is essential for its broad commercialization and widespread deployment, directly impacting the company's ability to generate revenue.AI Analysis | Feedback
Share Issuance
- GigCapital7 Corp. (the SPAC that merged with Hadron Energy) completed its initial public offering in August 2024, raising $200 million.
- Upon the closing of the business combination on May 22, 2026, 71,498,842 shares of common stock of Hadron Energy, Inc. were outstanding.
Inbound Investments
- Hadron Energy Operating Company (the private entity prior to the merger) secured $7.5 million in pre-IPO equity financing through Simple Agreements for Future Equity (SAFE) notes.
- The business combination brought approximately $31 million in cash to Hadron Energy at closing, derived from trust funds and SAFE bridge financing.
Capital Expenditures
- Hadron Energy is focused on developing factory-fabricated, transportable 10 megawatt-electric (MWe) micro-modular reactors (MMRs) and has secured a Uranium Conversion Services Agreement with ConverDyn to ensure domestic fuel supply for its Halo Micro-Modular Reactor.
- The company also has a non-binding Memorandum of Understanding with Smartland Energy, LLC, for the potential deployment of its Halo MMR technology across up to five projects.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 90.72 |
| Mkt Cap | 12.3 |
| Rev LTM | 1,243 |
| Op Inc LTM | 311 |
| FCF LTM | 314 |
| FCF 3Y Avg | 558 |
| CFO LTM | 345 |
| CFO 3Y Avg | 662 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.0% |
| Rev Chg 3Y Avg | 5.0% |
| Rev Chg Q | 10.6% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Inc Chg LTM | 10.3% |
| Op Inc Chg 3Y Avg | 16.1% |
| Op Mgn LTM | 20.9% |
| Op Mgn 3Y Avg | 20.0% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 19.5% |
| CFO/Rev 3Y Avg | 18.1% |
| FCF/Rev LTM | 17.5% |
| FCF/Rev 3Y Avg | 16.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 12.3 |
| P/S | 5.3 |
| P/Op Inc | 25.4 |
| P/EBIT | 23.7 |
| P/E | 32.0 |
| P/CFO | 27.2 |
| Total Yield | 3.9% |
| Dividend Yield | 0.8% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.9% |
| 3M Rtn | -10.0% |
| 6M Rtn | -4.8% |
| 12M Rtn | 10.6% |
| 3Y Rtn | 73.8% |
| 1M Excs Rtn | -5.0% |
| 3M Excs Rtn | -19.6% |
| 6M Excs Rtn | -11.7% |
| 12M Excs Rtn | -12.1% |
| 3Y Excs Rtn | 16.0% |
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Industrial Machinery & Supplies & Components Resources |
| Machine Design |
| Modern Machine Shop |
| Industrial Equipment News (IEN) |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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