X-Energy (NASDAQ:XE) Stock Gets Price Target Reduction from TD Cowen

Key Points

• TD Cowen cut its X-Energy price target from $35 to $25 but maintained a Buy rating; the new target implies 132.13% upside from the prior close.
• Analyst opinion remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $28.56.
• X-Energy reported quarterly EPS of -$0.14, beating estimates of -$0.21, while revenue rose 118.1% year over year to $66.34 million.

X-Energy (NASDAQ:XE - Get Free Report) had its target price decreased by investment analysts at TD Cowen from $35.00 to $25.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective points to a potential upside of 132.13% from the company's previous close.

Several other research analysts have also recently weighed in on XE. 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. Wedbush initiated coverage on X-Energy in a report on Tuesday, November 3rd. They set an "outperform" rating and a $17.00 price objective for the company. Piper Sandler reduced their price objective on X-Energy from $9.00 to $8.00 and set an "underweight" rating for the company in a report on Monday, October 19th. Weiss Ratings assumed coverage on X-Energy in a research report on Monday, July 20th. They issued a "sell (d)" rating on the stock. Finally, Morgan Stanley lowered their target price on X-Energy from $41.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.56.

X-Energy Trading Down 4.4%

Shares of NASDAQ:XE traded down $0.49 on Friday, hitting $10.77. The company had a trading volume of 1,209,677 shares, compared to its average volume of 5,974,178. The company has a market cap of $4.38 billion and a PE ratio of -71.80. The stock's 50 day moving average is $13.34. X-Energy has a 1-year low of $8.68 and a 1-year high of $37.10.

X-Energy (NASDAQ:XE - Get Free Report) last posted its earnings results on Thursday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.07. The company had revenue of $66.34 million for the quarter. The firm's revenue was up 118.1% on a year-over-year basis. On average, equities analysts predict that X-Energy will post -0.76 EPS for the current year.

Hedge Funds Weigh In On X-Energy

Several hedge funds have recently bought and sold shares of the company. Segra Capital Management LLC lifted its holdings in shares of X-Energy by 8.3% during the 3rd quarter. Segra Capital Management LLC now owns 15,678,017 shares of the company's stock worth $222,314,000 after acquiring an additional 1,202,283 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake 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 valued at $38,429,000 after acquiring an additional 1,261,498 shares during the last quarter. Two Seas Capital LP increased its stake in X-Energy by 39.4% in the third quarter. Two Seas Capital LP now owns 1,394,413 shares of the company's stock valued at $19,773,000 after acquiring an additional 394,413 shares during the last quarter. Wellington Management Group LLP bought a new position in X-Energy in the second quarter valued at approximately $15,011,000. Finally, State Street Corp raised its position in X-Energy by 46.7% during the third quarter. State Street Corp now owns 680,851 shares of the company's stock valued at $9,654,000 after purchasing an additional 216,713 shares in the last quarter.

About X-Energy

X-energy is an advanced nuclear technology company developing small modular reactors and nuclear fuel. Its flagship design, the Xe-100, is a high-temperature, gas-cooled reactor intended to provide electricity and industrial process heat. The company's reactor design uses pebble-shaped fuel containing TRISO-X particles, which are engineered to retain radioactive materials at high temperatures. Founded in 2009, X-energy has worked with government and commercial partners to advance its reactor and fuel technologies.

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