X-Energy (NASDAQ:XE) Stock Falls 8.5% - What's Next?

Key Points

• X-Energy shares fell 8.5% to $10.48 in Friday trading, with volume about 60% below the average session level. The stock is down 10.2% overall and trades well below its 50-day moving average of $16.79.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $33.38, although UBS and Morgan Stanley recently lowered their targets to $34.
• X-Energy reported quarterly revenue of $54.6 million, up 154% year over year, but missed earnings estimates with a loss of $0.15 per share versus the expected $0.09 loss. The company is developing small modular nuclear reactors and TRISO-X fuel.

X-Energy, Inc. (NASDAQ:XE - Get Free Report) traded down 8.5% during trading on Friday. The company traded as low as $10.48 and last traded at $10.48. 2,372,613 shares changed hands during trading, a decline of 60% from the average session volume of 5,921,914 shares. The stock had previously closed at $11.45.

Analysts Set New Price Targets

Several research firms have recently weighed in on XE. Jefferies Financial Group reissued a "hold" rating and set a $22.00 target price on shares of X-Energy in a research report on Wednesday, June 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $38.00 price objective on shares of X-Energy in a research note on Friday, August 14th. Texas Capital raised X-Energy to a "strong-buy" rating in a research report on Monday, September 14th. UBS Group decreased their price target on X-Energy from $40.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Finally, Morgan Stanley dropped their target price on X-Energy from $41.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.38.

X-Energy Stock Down 10.2%

The stock has a market capitalization of $4.18 billion and a PE ratio of -68.53. The company has a 50 day moving average of $16.79.

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

Hedge Funds Weigh In On X-Energy

Institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank purchased a new stake in shares of X-Energy in the third quarter valued at about $28,000. GK Wealth Management LLC acquired a new stake in X-Energy in the 3rd quarter valued at approximately $57,000. IFP Advisors Inc purchased a new stake in shares of X-Energy in the 2nd quarter valued at $95,000. Silicon Valley Capital Partners purchased a new stake in X-Energy during the second quarter worth about $103,000. Finally, Formula Growth Ltd. acquired a new stake in X-Energy during the 2nd quarter worth approximately $174,000.

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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