X-Energy (NASDAQ:XE) Now Covered by Analysts at Needham & Company LLC

Key Points

• Needham & Company initiated coverage of X-Energy with a “hold” rating, while the broader analyst consensus is also “Hold” with an average price target of $31.25.
• Analyst views are mixed: ratings include one Strong Buy, six Buys, four Holds, and two Sells. Recent target prices range from $8 at Piper Sandler to $57 at Guggenheim.
• X-Energy shares opened at $10.60, near their 12-month low of $10.04, and the company recently reported a quarterly loss of $0.15 per share versus an expected loss of $0.09, despite 154% year-over-year revenue growth.

Investment analysts at Needham & Company LLC initiated coverage on shares of X-Energy (NASDAQ:XE - Get Free Report) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set a "hold" rating on the stock.

A number of other research firms have also recently issued reports on XE. Weiss Ratings initiated coverage on X-Energy in a research report on Monday, July 20th. They set a "sell (d)" rating on the stock. Piper Sandler reduced their target price on X-Energy from $9.00 to $8.00 and set an "underweight" rating for the company in a research report on Monday, October 19th. Guggenheim reaffirmed a "buy" rating and issued a $57.00 target price on shares of X-Energy in a research report on Tuesday, September 8th. UBS Group decreased their price target on shares of X-Energy from $34.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $38.00 price target on shares of X-Energy in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $31.25.

X-Energy Price Performance

Shares of XE opened at $10.60 on Monday. X-Energy has a 12-month low of $10.04 and a 12-month high of $37.10. The company has a market capitalization of $4.31 billion and a price-to-earnings ratio of -70.67. The firm's 50-day moving average price is $15.51.

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

Institutional Investors Weigh In On X-Energy

Institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank bought a new position in shares of X-Energy during the 3rd quarter worth approximately $28,000. GK Wealth Management LLC acquired a new stake in X-Energy in the 3rd quarter valued at $57,000. IFP Advisors Inc acquired a new stake in X-Energy in the 2nd quarter valued at $95,000. Silicon Valley Capital Partners acquired a new stake in X-Energy in the 2nd quarter valued at $103,000. Finally, SBI Securities Co. Ltd. grew its position in X-Energy by 81.4% in the third quarter. SBI Securities Co. Ltd. now owns 13,615 shares of the company's stock valued at $193,000 after acquiring an additional 6,109 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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