X-Energy (NASDAQ:XE) Stock Price Down 5.8% - Here's What Happened

Key Points

• X-Energy shares fell 5.8% to about $18.03, with trading volume down 73% from the stock’s average daily volume.
• Analyst views remain mixed: Piper Sandler initiated coverage with an “underweight” rating and a $9 target, while Cantor Fitzgerald set a $38 target. Overall, the consensus rating is “Hold,” with an average price target of $34.25.
• X-Energy reported quarterly EPS of negative $0.15, missing estimates by $0.06, although revenue rose 154% year over year to $54.6 million. Several institutional investors, including Wellington Management, also opened new positions during the second quarter.

X-Energy, Inc. (NASDAQ:XE - Get Free Report) was down 5.8% on Wednesday . The stock traded as low as $17.89 and last traded at $18.03. Approximately 1,508,457 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 5,662,134 shares. The stock had previously closed at $19.15.

Analyst Upgrades and Downgrades

XE has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of X-Energy in a research note on Tuesday. They set an "underweight" rating and a $9.00 target price on the stock. TD Cowen restated a "buy" rating on shares of X-Energy in a research report on Tuesday, June 23rd. Jefferies Financial Group reissued a "hold" rating and issued a $22.00 target price on shares of X-Energy in a research note on Wednesday, June 24th. Wall Street Zen lowered X-Energy from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $38.00 price target on shares of X-Energy in a report on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, X-Energy has a consensus rating of "Hold" and an average price target of $34.25.

X-Energy Stock Performance

The stock's 50-day moving average price is $17.77. The company has a market capitalization of $6.99 billion and a P/E ratio of -114.60.

X-Energy (NASDAQ:XE - Get Free Report) last released its quarterly earnings results 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. As a group, research analysts anticipate that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On X-Energy

Several large investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in X-Energy during the 2nd quarter worth $15,011,000. BlueCrest Capital Management Ltd purchased a new stake in shares of X-Energy in the second quarter valued at about $7,436,000. Squarepoint Ops LLC acquired a new stake in shares of X-Energy during the second quarter worth about $5,967,000. Readystate Asset Management LP purchased a new position in shares of X-Energy during the second quarter worth about $2,943,000. Finally, WINTON GROUP Ltd acquired a new position in X-Energy in the 2nd quarter valued at about $1,645,000.

About X-Energy

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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