X-Energy (NASDAQ:XE) Shares Down 6.9% - Here's Why

Key Points

• X-Energy shares fell 6.9% to $14.39 in mid-day trading, with volume down 74% from the average daily level.
• Analyst sentiment remains mixed: Piper Sandler initiated coverage with an “underweight” rating and a $9 target, while the overall consensus is “Moderate Buy” with a $34.25 average price target.
• The company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.15 per share versus the projected $0.09 loss, despite revenue rising 154% year over year to $54.6 million.

X-Energy, Inc. (NASDAQ:XE - Get Free Report) shares traded down 6.9% during mid-day trading on Wednesday. The company traded as low as $14.14 and last traded at $14.39. Approximately 1,511,060 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 5,910,062 shares. The stock had previously closed at $15.45.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler assumed coverage on X-Energy in a research report on Tuesday, September 8th. They set an "underweight" rating and a $9.00 price target on the stock. Guggenheim reiterated a "buy" rating and set a $57.00 price target on shares of X-Energy in a research note on Tuesday, September 8th. Texas Capital raised X-Energy to a "strong-buy" rating in a research report on Monday, September 14th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $22.00 target price on shares of X-Energy in a report on Wednesday, June 24th. Finally, UBS Group cut their price target on shares of X-Energy from $40.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $34.25.

X-Energy Stock Down 8.2%

The company has a market capitalization of $5.77 billion and a P/E ratio of -94.60. The company's 50 day simple moving average is $17.47.

X-Energy (NASDAQ:XE - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.06). The business had revenue of $54.60 million during the quarter. The business's revenue for the quarter was up 154.0% on a year-over-year basis. On average, sell-side analysts predict that X-Energy, Inc. will post -0.71 EPS for the current year.

Institutional Investors Weigh In On X-Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XE. Eastern Bank purchased a new position in X-Energy in the 3rd quarter valued at about $28,000. IFP Advisors Inc purchased a new stake in X-Energy during the 2nd quarter worth approximately $95,000. Silicon Valley Capital Partners purchased a new stake in X-Energy during the 2nd quarter worth approximately $103,000. Formula Growth Ltd. acquired a new position in shares of X-Energy in the 2nd quarter valued at approximately $174,000. Finally, AXQ Capital LP purchased a new position in shares of X-Energy during the 2nd quarter valued at approximately $188,000.

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.