X-Energy, Inc. $XE Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its X-Energy stake by 87.1% in the third quarter, adding 1.26 million shares to hold about 2.71 million shares, worth $38.4 million.
• X-Energy reported quarterly revenue of $54.6 million, up 154% year over year, but its loss per share of $0.15 was wider than analysts’ $0.09 estimate.
• The stock was reported down 8.5%, with shares opening at $10.05, near its 12-month low of $9.95. Analysts’ consensus rating was “Moderate Buy,” with a $29.67 average price target.

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of X-Energy, Inc. (NASDAQ:XE - Free Report) by 87.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,710,077 shares of the company's stock after purchasing an additional 1,261,498 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.67% of X-Energy worth $38,429,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of XE. Eastern Bank bought a new position in shares of X-Energy during the third quarter valued at $28,000. GK Wealth Management LLC acquired a new stake in shares of X-Energy in the third quarter valued at approximately $57,000. IFP Advisors Inc acquired a new position in X-Energy during the 2nd quarter worth $95,000. Silicon Valley Capital Partners bought a new stake in shares of X-Energy during the second quarter worth $103,000. Finally, Delta Capital Management LLC acquired a new stake in X-Energy in the third quarter worth about $154,000.

X-Energy Stock Down 8.5%

Shares of NASDAQ XE opened at $10.05 on Thursday. The stock's 50-day simple moving average is $14.25. X-Energy, Inc. has a 12 month low of $9.95 and a 12 month high of $37.10.

X-Energy (NASDAQ:XE - Get Free Report) last released its 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 company had revenue of $54.60 million during the quarter. X-Energy's quarterly revenue was up 154.0% on a year-over-year basis. Sell-side analysts anticipate that X-Energy, Inc. will post -0.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on XE shares. Morgan Stanley decreased their target price on X-Energy from $41.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, October 14th. Weiss Ratings started coverage on shares of X-Energy in a research note on Monday, July 20th. They set a "sell (d)" rating on the stock. Texas Capital upgraded X-Energy to a "strong-buy" rating in a research report on Monday, September 14th. Needham & Company LLC began coverage on shares of X-Energy in a report on Monday, October 26th. They issued a "hold" rating for the company. Finally, Guggenheim reissued a "buy" rating and issued a $57.00 price target on shares of X-Energy in a research report on Tuesday, September 8th. One equities research 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. According to data from MarketBeat.com, X-Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.67.

X-Energy Company Profile

X-energy is an advanced nuclear energy company that develops small modular reactors and nuclear fuel designed to provide reliable, carbon-free electricity and industrial heat. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor that uses helium as a coolant and is designed for modular deployment.

The company also develops TRISO-X fuel, a coated-particle fuel technology intended to withstand extreme temperatures and support the operation of advanced reactors. X-energy's products are aimed at utilities, industrial customers, and other organizations seeking dependable power and process heat with lower carbon emissions.

Founded in 2009, X-energy is headquartered in Rockville, Maryland.

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