X-Energy (NASDAQ:XE) Shares Climb 5.8% After Earnings Beat

Key Points

• X-Energy shares rose 5.8% to $11.57 after the company reported quarterly earnings that beat expectations.
• The company posted a loss of $0.14 per share, versus analysts’ expected loss of $0.21, while revenue reached $66.34 million—up 118.1% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $29.67; ratings range from two Sell to eight Buy or Strong Buy recommendations.

X-Energy, Inc. (NASDAQ:XE - Get Free Report)'s share price traded up 5.8% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $11.71 and last traded at $11.57. Approximately 3,501,912 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 5,983,156 shares. The stock had previously closed at $10.94.

The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.07. The firm had revenue of $66.34 million for the quarter. The company's revenue was up 118.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

XE has been the topic of a number of analyst reports. Wedbush assumed coverage on X-Energy in a research note on Tuesday, November 3rd. They issued an "outperform" rating and a $17.00 price target on the stock. Weiss Ratings initiated coverage on X-Energy in a research note on Monday, July 20th. They set a "sell (d)" rating for the company. Needham & Company LLC initiated coverage on X-Energy in a report on Monday, October 26th. They issued a "hold" rating for the company. Morgan Stanley cut their target price on X-Energy from $41.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 14th. Finally, Texas Capital upgraded X-Energy to a "strong-buy" rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $29.67.

Institutional Trading of X-Energy

Several institutional investors and hedge funds have recently bought and sold shares of XE. Segra Capital Management LLC lifted its position in shares of X-Energy by 8.3% in the third quarter. Segra Capital Management LLC now owns 15,678,017 shares of the company's stock valued at $222,314,000 after buying an additional 1,202,283 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of X-Energy by 87.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,710,077 shares of the company's stock valued at $38,429,000 after buying an additional 1,261,498 shares during the period. Two Seas Capital LP grew its position in X-Energy by 39.4% during the third quarter. Two Seas Capital LP now owns 1,394,413 shares of the company's stock worth $19,773,000 after buying an additional 394,413 shares in the last quarter. Wellington Management Group LLP acquired a new stake in X-Energy during the second quarter worth approximately $15,011,000. Finally, State Street Corp grew its position in X-Energy by 46.7% during the third quarter. State Street Corp now owns 680,851 shares of the company's stock worth $9,654,000 after buying an additional 216,713 shares in the last quarter.

X-Energy Stock Performance

The business has a 50 day simple moving average of $13.48. The company has a market cap of $4.70 billion and a PE ratio of -77.13.

About X-Energy

X-energy is an advanced nuclear technology company developing small modular reactors and nuclear fuel. Its flagship design, the Xe-100, is a high-temperature, gas-cooled reactor intended to provide electricity and industrial process heat. The company's reactor design uses pebble-shaped fuel containing TRISO-X particles, which are engineered to retain radioactive materials at high temperatures. Founded in 2009, X-energy has worked with government and commercial partners to advance its reactor and fuel technologies.

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