X-Energy (NASDAQ:XE) Raised to Strong-Buy at Texas Capital

Key Points

• Texas Capital upgraded X-Energy to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $34.25.
• X-Energy shares opened at $15.02 and were down 4%, trading well below their 52-week high of $37.10; the company has a $6.10 billion market capitalization and a negative P/E ratio.
• The company reported quarterly revenue of $54.6 million, up 154% year over year, but its $0.15-per-share loss was worse than analysts’ expected $0.09 loss. Several institutional investors also established new positions in the stock during the second quarter.

X-Energy (NASDAQ:XE - Get Free Report) was upgraded by equities research analysts at Texas Capital to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

XE has been the subject of a number of other research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $38.00 target price on shares of X-Energy in a research report on Friday, August 14th. Guggenheim reiterated a "buy" rating and set a $57.00 price target on shares of X-Energy in a research report on Tuesday, September 8th. JPMorgan Chase & Co. initiated coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set an "overweight" rating and a $38.00 price target on the stock. UBS Group lowered their price objective on shares of X-Energy from $40.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. Finally, Weiss Ratings began coverage on shares of X-Energy in a research note on Monday, July 20th. They issued a "sell (d)" rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, X-Energy has a consensus rating of "Moderate Buy" and an average price target of $34.25.

X-Energy Trading Down 4.0%

XE opened at $15.02 on Monday. The company has a fifty day moving average price of $17.59. X-Energy has a 52 week low of $13.29 and a 52 week high of $37.10. The company has a market capitalization of $6.10 billion and a PE ratio of -100.13.

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 (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 business's quarterly revenue was up 154.0% compared to the same quarter last year. As a group, equities research analysts predict that X-Energy will post -0.67 EPS for the current year.

Institutional Investors Weigh In On X-Energy

Several institutional investors have recently bought and sold shares of XE. Tidal Investments LLC bought a new position in X-Energy during the 2nd quarter worth approximately $3,344,000. BlueCrest Capital Management Ltd purchased a new stake in shares of X-Energy during the second quarter valued at approximately $7,436,000. WINTON GROUP Ltd purchased a new stake in shares of X-Energy during the second quarter valued at approximately $1,645,000. IFP Advisors Inc bought a new position in shares of X-Energy in the second quarter worth approximately $95,000. Finally, Squarepoint Ops LLC bought a new position in shares of X-Energy in the second quarter worth approximately $5,967,000.

About X-Energy

X-Energy, Inc NASDAQ: XE is an advanced nuclear energy company developing modular reactors and fuel systems designed to provide reliable, low-carbon electricity and industrial heat. Its primary technology is the Xe-100, a high-temperature gas-cooled small modular reactor intended for applications including grid power, industrial operations and data centers.

The company also develops and manufactures TRISO-X nuclear fuel, a coated particle fuel designed for use in high-temperature reactors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.