X-Energy (NASDAQ:XE) Shares Climb 6% - Here's Why

Key Points

• X-Energy shares rose 6.6% to about $15.27 in Tuesday trading, although volume was 62% below the average session level.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $34.25 price target, despite recent sell downgrades and UBS lowering its target to $34.
• The company reported quarterly revenue of $54.6 million, up 154% year over year, but its $0.15 per-share loss missed estimates by $0.06; several institutional investors also recently initiated positions.

X-Energy, Inc. (NASDAQ:XE - Get Free Report)'s stock price was up 6% during trading on Tuesday. The company traded as high as $15.39 and last traded at $15.27. Approximately 2,204,628 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 5,863,577 shares. The stock had previously closed at $14.41.

Analyst Upgrades and Downgrades

XE has been the topic of a number of research analyst reports. Wall Street Zen cut shares of X-Energy from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. UBS Group dropped their price target on X-Energy from $40.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings began coverage on X-Energy in a report on Monday, July 20th. They issued a "sell (d)" rating on the stock. TD Cowen reissued a "buy" rating on shares of X-Energy in a research note on Tuesday, June 23rd. Finally, Guggenheim restated a "buy" rating and set a $57.00 price objective on shares of X-Energy in a report on Tuesday, September 8th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.25.

X-Energy Stock Up 6.6%

The company has a market capitalization of $6.24 billion and a P/E ratio of -102.40. The company has a fifty day moving average price of $17.48.

X-Energy (NASDAQ:XE - Get Free Report) last issued its 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 business had revenue of $54.60 million during the quarter. X-Energy's quarterly revenue was up 154.0% on a year-over-year basis. Equities analysts forecast that X-Energy, Inc. will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On X-Energy

Several hedge funds have recently bought and sold shares of the stock. Eastern Bank purchased a new position in X-Energy in the 3rd quarter worth approximately $28,000. State Street Corp purchased a new stake in shares of X-Energy during the second quarter valued at approximately $8,522,000. Silicon Valley Capital Partners bought a new position in shares of X-Energy in the second quarter worth approximately $103,000. Tidal Investments LLC purchased a new position in shares of X-Energy in the second quarter worth $3,344,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of X-Energy in the second quarter worth $7,436,000.

X-Energy Company Profile

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.

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.