X-Energy (NASDAQ:XE) Coverage Initiated by Analysts at Wedbush

Key Points

• Wedbush initiated coverage of X-Energy with an “outperform” rating and a $17 price target, implying 63.93% upside from the prior close.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus rating of “Moderate Buy” and an average target price of $29.67, based on one Strong Buy, seven Buys, four Holds and two Sells.
• X-Energy reported quarterly revenue of $54.6 million, up 154% year over year, but missed earnings expectations with a loss of $0.15 per share versus the expected $0.09 loss; the stock opened at $10.37 and has traded between $10.04 and $37.10 over the past year.

Analysts at Wedbush initiated coverage on shares of X-Energy (NASDAQ:XE - Get Free Report) in a research note issued on Tuesday, Briefing.com reports. The brokerage set an "outperform" rating and a $17.00 price target on the stock. Wedbush's target price points to a potential upside of 63.93% from the stock's previous close.

Other analysts have also recently issued reports about the company. UBS Group reduced their target price on X-Energy from $34.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, October 21st. Texas Capital upgraded shares of X-Energy to a "strong-buy" rating in a report on Monday, September 14th. Weiss Ratings initiated coverage on shares of X-Energy in a research report on Monday, July 20th. They issued a "sell (d)" rating on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $38.00 price objective on shares of X-Energy in a research note on Friday, August 14th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $57.00 price objective on shares of X-Energy in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $29.67.

X-Energy Price Performance

NASDAQ XE opened at $10.37 on Tuesday. The company has a 50-day moving average of $14.57. X-Energy has a 12 month low of $10.04 and a 12 month high of $37.10. The company has a market cap of $4.21 billion and a price-to-earnings ratio of -69.13.

X-Energy (NASDAQ:XE - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $54.60 million during the quarter. X-Energy's revenue for the quarter was up 154.0% compared to the same quarter last year. On average, analysts forecast that X-Energy will post -0.76 earnings per share for the current year.

Institutional Investors Weigh In On X-Energy

Several large investors have recently added to or reduced their stakes in XE. Alps Advisors Inc. lifted its position in shares of X-Energy by 541.0% during the 3rd quarter. Alps Advisors Inc. now owns 137,770 shares of the company's stock valued at $1,954,000 after acquiring an additional 116,276 shares during the period. Kestra Advisory Services LLC bought a new position in X-Energy during the third quarter worth $3,520,000. Kestra Private Wealth Services LLC bought a new position in X-Energy during the third quarter worth $465,000. Chicago Partners Investment Group LLC bought a new position in X-Energy during the third quarter worth $291,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in X-Energy by 87.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,710,077 shares of the company's stock worth $38,429,000 after purchasing an additional 1,261,498 shares during the period.

X-Energy Company Profile

X-energy is an advanced nuclear energy company that develops small modular reactors and nuclear fuel designed to provide reliable, carbon-free electricity and industrial heat. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor that uses helium as a coolant and is designed for modular deployment.

The company also develops TRISO-X fuel, a coated-particle fuel technology intended to withstand extreme temperatures and support the operation of advanced reactors. X-energy's products are aimed at utilities, industrial customers, and other organizations seeking dependable power and process heat with lower carbon emissions.

Founded in 2009, X-energy is headquartered in Rockville, Maryland.

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