X-Energy (NASDAQ:XE) Earns Buy Rating from Guggenheim

Key Points

• Guggenheim reiterated its “buy” rating on X-Energy and set a $57 price target, implying 211.48% upside from the stock’s prior close.
• Analyst sentiment is broadly positive: X-Energy has a consensus “Moderate Buy” rating and an average price target of $37.86, based on six Buy, three Hold, and one Sell rating.
• X-Energy reported quarterly revenue of $54.6 million, up 154% year over year, but its $0.15 loss per share was worse than the $0.09 consensus estimate; shares opened at $18.30.

X-Energy (NASDAQ:XE - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Guggenheim in a research report issued on Tuesday, Benzinga reports. They presently have a $57.00 price objective on the stock. Guggenheim's price target indicates a potential upside of 211.48% from the stock's previous close.

Several other analysts also recently weighed in on the stock. UBS Group lowered their price target on shares of X-Energy from $40.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. JPMorgan Chase & Co. began coverage on X-Energy in a report on Tuesday, May 19th. They issued an "overweight" rating and a $38.00 price objective on the stock. Morgan Stanley began coverage on X-Energy in a research note on Tuesday, May 19th. They issued an "overweight" rating and a $41.00 target price for the company. Jefferies Financial Group restated a "hold" rating and set a $22.00 target price on shares of X-Energy in a report on Wednesday, June 24th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $38.00 price target on shares of X-Energy in a research report on Friday, August 14th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $37.86.

X-Energy Price Performance

Shares of NASDAQ XE opened at $18.30 on Tuesday. The company has a market capitalization of $7.44 billion and a PE ratio of -122.00. X-Energy has a one year low of $13.29 and a one year high of $37.10. The company's 50 day simple moving average is $17.76.

X-Energy (NASDAQ:XE - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.06). The firm had revenue of $54.60 million for the quarter. The firm's quarterly revenue was up 154.0% on a year-over-year basis. Sell-side analysts forecast that X-Energy will post -0.76 earnings per share for the current year.

Institutional Trading of X-Energy

Several large investors have recently modified their holdings of the business. Formula Growth Ltd. purchased a new position in shares of X-Energy during the second quarter valued at approximately $174,000. AXQ Capital LP bought a new stake in X-Energy in the second quarter valued at $188,000. California State Teachers Retirement System purchased a new position in X-Energy during the 2nd quarter valued at $201,000. Public Employees Retirement System of Ohio purchased a new position in X-Energy during the 2nd quarter valued at $221,000. Finally, Bank of New York Mellon Corp bought a new position in X-Energy in the 2nd quarter worth $1,251,000.

X-Energy Company Profile

X-Energy NASDAQ: XE is a U.S.-based advanced nuclear technology company focused on the development and commercialization of small modular reactors (SMRs) and advanced nuclear fuel. Its flagship reactor design, the Xe-100, is a high-temperature gas-cooled reactor intended to provide low-carbon electricity and process heat for industrial applications. X-Energy's technology centers on TRISO fuel, a robust, particle-based fuel form that the company promotes for enhanced safety and high-temperature operation.

The company's activities include reactor design and engineering, fuel development and manufacturing, regulatory engagement, and project delivery support for utility and industrial customers.

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