X-Energy (NASDAQ:XE) Stock Price Up 9.9% - Time to Buy?

Key Points

• X-Energy shares rose 9.9% to $18.92, despite trading volume falling 76% below its average daily level.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $37.86; however, one firm rated the stock “Sell.”
• The company reported quarterly revenue of $54.6 million, up 154% year over year, but missed earnings expectations with a loss of $0.15 per share versus the projected $0.09 loss.

Shares of X-Energy, Inc. (NASDAQ:XE - Get Free Report) were up 9.9% on Monday . The company traded as high as $19.14 and last traded at $18.92. Approximately 1,308,424 shares changed hands during trading, a decline of 76% from the average daily volume of 5,545,473 shares. The stock had previously closed at $17.22.

Wall Street Analysts Forecast Growth

XE has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $38.00 price target on shares of X-Energy in a research report on Friday, August 14th. UBS Group dropped their target price on X-Energy from $40.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings initiated coverage on shares of X-Energy in a research report on Monday, July 20th. They set a "sell (d)" rating for the company. JPMorgan Chase & Co. assumed coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set an "overweight" rating and a $38.00 price objective for the company. Finally, TD Cowen reaffirmed a "buy" rating on shares of X-Energy in a report on Tuesday, June 23rd. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has 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 target price of $37.86.

X-Energy Stock Performance

The firm has a market capitalization of $7.35 billion and a P/E ratio of -120.53. The stock has a fifty day moving average price of $17.92.

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 the consensus estimate of ($0.09) by ($0.06). The business had revenue of $54.60 million during the quarter. X-Energy's revenue for the quarter was up 154.0% compared to the same quarter last year. As a group, equities research analysts expect that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On X-Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in X-Energy during the second quarter worth $15,011,000. Readystate Asset Management LP acquired a new stake in shares of X-Energy in the second quarter valued at about $2,943,000. Bank of New York Mellon Corp purchased a new stake in shares of X-Energy during the second quarter worth about $1,251,000. Public Employees Retirement System of Ohio purchased a new stake in shares of X-Energy during the second quarter worth about $221,000. Finally, California State Teachers Retirement System acquired a new position in shares of X-Energy during the 2nd quarter worth about $201,000.

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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