Bank of New York Mellon Corp Acquires New Position in X-Energy, Inc. $XE

Key Points

• Bank of New York Mellon acquired 68,126 shares of X-Energy during the second quarter, valued at approximately $1.25 million.
• X-Energy shares were down 9.9%, opening at $17.26, while the company reported a quarterly loss of $0.15 per share—worse than analysts’ expected loss of $0.09—despite revenue rising 154% year over year to $54.6 million.
• Analyst sentiment is mixed, with six Buy, three Hold, and two Sell ratings; the stock has an overall “Hold” consensus and an average price target of $34.25.

Bank of New York Mellon Corp bought a new position in shares of X-Energy, Inc. (NASDAQ:XE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 68,126 shares of the company's stock, valued at approximately $1,251,000.

X-Energy Stock Down 9.9%

Shares of NASDAQ XE opened at $17.26 on Thursday. The firm has a 50-day simple moving average of $17.75. The stock has a market capitalization of $7.01 billion and a P/E ratio of -115.07. X-Energy, Inc. has a 12-month low of $13.29 and a 12-month high of $37.10.

X-Energy (NASDAQ:XE - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.06). The firm 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. As a group, equities research analysts expect that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

XE has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on X-Energy in a report on Tuesday, May 19th. They set an "overweight" rating and a $41.00 price objective on the stock. UBS Group decreased their target price on shares of X-Energy from $40.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. TD Cowen reiterated a "buy" rating on shares of X-Energy in a report on Tuesday, June 23rd. Wall Street Zen cut shares of X-Energy from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, Zacks Research raised shares of X-Energy to a "hold" rating in a report on Wednesday, May 20th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, X-Energy presently has an average rating of "Hold" and a consensus target price of $34.25.

X-Energy 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.

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.