160,285 Shares in X-Energy, Inc. $XE Bought by Readystate Asset Management LP

Key Points

• Readystate Asset Management bought 160,285 shares of X-Energy worth approximately $2.94 million in the second quarter. Other institutional investors, including Wellington Management, also established new positions.
• X-Energy shares opened at $17.71, well below their one-year high of $37.10. The company reported quarterly revenue of $54.6 million, up 154% year over year, but its $0.15-per-share loss exceeded analyst estimates.
• Analysts maintain a generally positive outlook, with six Buy ratings, three Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $37.86.

Readystate Asset Management LP purchased a new stake in X-Energy, Inc. (NASDAQ:XE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 160,285 shares of the company's stock, valued at approximately $2,943,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of XE. Formula Growth Ltd. bought a new stake in X-Energy in the 2nd quarter valued at $174,000. AXQ Capital LP acquired a new stake in shares of X-Energy during the 2nd quarter valued at about $188,000. Public Employees Retirement System of Ohio acquired a new stake in shares of X-Energy during the 2nd quarter valued at about $221,000. Bank of New York Mellon Corp bought a new stake in X-Energy in the second quarter valued at about $1,251,000. Finally, Wellington Management Group LLP bought a new stake in X-Energy in the second quarter valued at about $15,011,000.

X-Energy Price Performance

Shares of XE opened at $17.71 on Monday. The firm has a market cap of $7.20 billion and a P/E ratio of -118.07. X-Energy, Inc. has a one year low of $13.29 and a one year high of $37.10. The stock has a 50 day simple moving average of $17.78.

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 business had revenue of $54.60 million during the quarter. X-Energy's revenue for the quarter was up 154.0% compared to the same quarter last year. Sell-side analysts anticipate that X-Energy, Inc. will post -0.76 EPS for the current fiscal year.

Analyst Ratings Changes

XE has been the subject of a number of analyst reports. Jefferies Financial Group restated a "hold" rating and set a $22.00 price target on shares of X-Energy in a research note on Wednesday, June 24th. TD Cowen reissued a "buy" rating on shares of X-Energy in a report on Tuesday, June 23rd. Zacks Research upgraded X-Energy to a "hold" rating in a research report on Wednesday, May 20th. Morgan Stanley initiated coverage on X-Energy in a research note on Tuesday, May 19th. They issued an "overweight" rating and a $41.00 price target on the stock. Finally, Guggenheim assumed coverage on X-Energy in a research report on Tuesday, May 19th. They issued a "buy" rating and a $57.00 price target on the stock. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.86.

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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