X-Energy (NASDAQ:XE) Stock Price Target Lowered at Morgan Stanley

Key Points

• Morgan Stanley lowered X-Energy’s price target from $41 to $34 while maintaining an “overweight” rating, implying 184.76% potential upside from the stock’s $11.94 price.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $33.38, with targets ranging from $9 to $38.
• X-Energy’s quarterly loss exceeded expectations, with EPS of negative $0.15 versus estimates of negative $0.09, although revenue rose 154% year over year to $54.6 million.

X-Energy (NASDAQ:XE - Get Free Report) had its target price lowered by investment analysts at Morgan Stanley from $41.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 184.76% from the company's current price.

A number of other research firms also recently weighed in on XE. Jefferies Financial Group restated a "hold" rating and issued a $22.00 price target on shares of X-Energy in a research note on Wednesday, June 24th. Weiss Ratings began coverage on X-Energy in a research note on Monday, July 20th. They set a "sell (d)" rating on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $38.00 price objective on shares of X-Energy in a report on Friday, August 14th. UBS Group decreased their target price 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. Finally, Piper Sandler began coverage on shares of X-Energy in a research report on Tuesday, September 8th. They set an "underweight" rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, X-Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.38.

X-Energy Price Performance

X-Energy stock traded down $0.78 during mid-day trading on Wednesday, reaching $11.94. The company's stock had a trading volume of 1,484,342 shares, compared to its average volume of 5,893,503. The firm's 50 day simple moving average is $17.13. X-Energy has a 12 month low of $11.94 and a 12 month high of $37.10. The stock has a market cap of $4.85 billion and a P/E ratio of -79.60.

X-Energy (NASDAQ:XE - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) EPS 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 business's revenue for the quarter was up 154.0% on a year-over-year basis. As a group, analysts predict that X-Energy will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Eastern Bank acquired a new position in X-Energy in the 3rd quarter valued at $28,000. GK Wealth Management LLC bought a new stake in X-Energy during the 3rd quarter worth $57,000. IFP Advisors Inc bought a new stake in shares of X-Energy during the second quarter worth about $95,000. Silicon Valley Capital Partners acquired a new position in X-Energy in the 2nd quarter valued at approximately $103,000. Finally, Formula Growth Ltd. acquired a new position in X-Energy during the 2nd quarter worth about $174,000.

X-Energy Company Profile

X-energy is an advanced nuclear energy company developing small modular reactors and the specialized fuel needed to operate them. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor designed to provide reliable, carbon-free electricity and high-temperature process heat for utilities, industrial facilities and other energy users.

The company also develops TRISO-X fuel, a form of accident-tolerant nuclear fuel made with coated fuel particles designed to retain radioactive materials at high temperatures.

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