State Street Corp Buys New Shares in X-Energy, Inc. $XE

Key Points

• State Street initiated a position in X-Energy, buying 464,138 shares worth approximately $8.5 million, or about 0.11% of the company. Several other institutional investors also opened new positions during the second quarter.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $34.25, although targets range from $9 to $57 and ratings include both buy and sell recommendations.
• X-Energy reported $54.6 million in quarterly revenue, up 154% year over year, but missed earnings expectations with a loss of $0.15 per share versus the projected $0.09 loss. The stock opened at $15.08, well below its one-year high of $37.10.

State Street Corp bought a new position in shares of X-Energy, Inc. (NASDAQ:XE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 464,138 shares of the company's stock, valued at approximately $8,522,000. State Street Corp owned approximately 0.11% of X-Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Silicon Valley Capital Partners bought a new position in X-Energy during the second quarter valued at approximately $103,000. Tidal Investments LLC purchased a new position in shares of X-Energy in the 2nd quarter worth approximately $3,344,000. BlueCrest Capital Management Ltd purchased a new stake in X-Energy during the 2nd quarter valued at $7,436,000. WINTON GROUP Ltd bought a new stake in X-Energy in the second quarter worth $1,645,000. Finally, IFP Advisors Inc bought a new position in shares of X-Energy during the second quarter valued at approximately $95,000.

Wall Street Analysts Forecast Growth

XE has been the topic of a number of recent research reports. Jefferies Financial Group reissued a "hold" rating and set a $22.00 price target on shares of X-Energy in a research report on Wednesday, June 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $38.00 price objective on shares of X-Energy in a research note on Friday, August 14th. Texas Capital raised shares of X-Energy to a "strong-buy" rating in a report on Monday, September 14th. Guggenheim restated a "buy" rating and set a $57.00 price objective on shares of X-Energy in a research note on Tuesday, September 8th. Finally, Piper Sandler assumed coverage on X-Energy in a report on Tuesday, September 8th. They set an "underweight" rating and a $9.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.25.

X-Energy Stock Performance

NASDAQ:XE opened at $15.08 on Friday. The firm has a 50 day moving average of $17.65. The firm has a market capitalization of $6.13 billion and a PE ratio of -100.53. X-Energy, Inc. has a one year low of $13.29 and a one year high of $37.10.

X-Energy (NASDAQ:XE - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $54.60 million during the quarter. X-Energy's revenue was up 154.0% on a year-over-year basis. As a group, sell-side analysts forecast that X-Energy, Inc. will post -0.67 EPS for the current year.

X-Energy Profile

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.