X-Energy, Inc.'s (NASDAQ:XE) Lock-Up Period Set To Expire on October 21st

Key Points

• X-Energy’s lock-up period expires October 21, allowing insiders and major shareholders to sell up to 44.3 million shares issued in its $1.02 billion public offering.
• Analyst sentiment is moderately bullish, with a consensus rating of “Moderate Buy” and an average price target of $34.25, despite ratings ranging from Sell to Strong Buy.
• The stock opened at $12.72, near its 12-month low of $12.56. X-Energy’s latest quarterly loss exceeded expectations, although revenue rose 154% year over year to $54.6 million.

X-Energy's (NASDAQ:XE - Get Free Report) lock-up period is set to end on Wednesday, October 21st. X-Energy had issued 44,254,659 shares in its public offering on April 24th. The total size of the offering was $1,017,857,157 based on an initial share price of $23.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Ratings Changes

A number of research analysts have issued reports on XE shares. Weiss Ratings started coverage on X-Energy in a research note on Monday, July 20th. They issued a "sell (d)" rating for the company. UBS Group dropped 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 note on Wednesday, July 1st. Jefferies Financial Group reaffirmed a "hold" rating and issued a $22.00 price target on shares of X-Energy in a report on Wednesday, June 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $38.00 price objective on shares of X-Energy in a research note on Friday, August 14th. Finally, Guggenheim restated a "buy" rating and issued a $57.00 target price on shares of X-Energy in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, X-Energy presently has an average rating of "Moderate Buy" and a consensus price target of $34.25.

X-Energy Price Performance

Shares of NASDAQ:XE opened at $12.72 on Wednesday. The stock's 50-day simple moving average is $17.13. X-Energy has a twelve month low of $12.56 and a twelve month high of $37.10.

X-Energy (NASDAQ:XE - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $54.60 million for the quarter. X-Energy's quarterly revenue was up 154.0% compared to the same quarter last year. Analysts predict that X-Energy will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On X-Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC bought a new stake in shares of X-Energy during the 2nd quarter valued at $3,344,000. State Street Corp purchased a new stake in X-Energy during the 2nd quarter worth about $8,522,000. Segra Capital Management LLC boosted its stake in X-Energy by 8.3% in the 3rd quarter. Segra Capital Management LLC now owns 15,678,017 shares of the company's stock worth $222,314,000 after purchasing an additional 1,202,283 shares during the period. WINTON GROUP Ltd bought a new position in X-Energy in the 2nd quarter worth about $1,645,000. Finally, BlueCrest Capital Management Ltd bought a new position in X-Energy in the 2nd quarter worth about $7,436,000.

About X-Energy

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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