X-Energy (NASDAQ:XE) Sees Large Volume Increase - Here's What Happened

Key Points

• X-Energy shares traded about 2.94 million shares, down 47% from the prior session, while edging up to $18.58 from a $18.45 close.
• Analysts maintain a broadly positive outlook, with six Buy ratings, three Holds and one Sell; the consensus rating is “Moderate Buy” with a $37.86 target price, despite UBS lowering its target to $34.
• The company reported quarterly revenue of $54.6 million, up 154% year over year, but missed earnings expectations with a loss of $0.15 per share versus the projected $0.09 loss. Several institutional investors also initiated positions, including Wellington Management’s approximately $15 million stake.

Shares of X-Energy, Inc. (NASDAQ:XE - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 2,942,879 shares were traded during trading, a decline of 47% from the previous session's volume of 5,586,104 shares.The stock last traded at $18.58 and had previously closed at $18.45.

Wall Street Analysts Forecast Growth

XE has been the subject of a number of research analyst reports. UBS Group decreased their target price on X-Energy from $40.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. JPMorgan Chase & Co. began coverage on shares of X-Energy in a research report on Tuesday, May 19th. They issued an "overweight" rating and a $38.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $38.00 price target on shares of X-Energy in a research note on Friday, August 14th. Zacks Research raised shares of X-Energy to a "hold" rating in a research note on Wednesday, May 20th. Finally, TD Cowen reiterated a "buy" rating on shares of X-Energy in a report on Tuesday, June 23rd. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, X-Energy has an average rating of "Moderate Buy" and a consensus target price of $37.86.

X-Energy Price Performance

The company has a market capitalization of $7.42 billion and a price-to-earnings ratio of -121.73. The stock's 50-day simple moving average is $17.89.

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 business had revenue of $54.60 million during the quarter. The business's quarterly revenue was up 154.0% on a year-over-year basis. As a group, equities research analysts expect that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On X-Energy

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System bought a new stake in X-Energy during the second quarter worth $201,000. Public Employees Retirement System of Ohio bought a new stake in X-Energy in the second quarter worth about $221,000. Bank of New York Mellon Corp purchased a new position in X-Energy in the second quarter valued at about $1,251,000. AXQ Capital LP bought a new position in shares of X-Energy during the 2nd quarter valued at approximately $188,000. Finally, Wellington Management Group LLP bought a new position in shares of X-Energy during the 2nd quarter valued at approximately $15,011,000.

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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