X-Energy (NASDAQ:XE) Trading Up 6.6% - Here's What Happened

Key Points

• X-Energy shares rose 6.6% to $15.92 on Monday, reaching an intraday high of $16.39, although trading volume was 61% below its average.
• Analyst sentiment is mixed: six analysts rate the stock Buy, three Hold, and two Sell, producing an average Hold rating and a $34.25 price target.
• X-Energy reported quarterly revenue of $54.6 million, up 154% year over year, but its $0.15 per-share loss missed the $0.09 consensus estimate.

X-Energy, Inc. (NASDAQ:XE - Get Free Report)'s stock price was up 6.6% on Monday . The company traded as high as $16.39 and last traded at $15.92. 2,272,515 shares changed hands during trading, a decline of 61% from the average session volume of 5,771,978 shares. The stock had previously closed at $14.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $38.00 target price on shares of X-Energy in a report on Friday, August 14th. Weiss Ratings initiated coverage on X-Energy in a report on Monday, July 20th. They set a "sell (d)" rating for the company. Guggenheim reiterated a "buy" rating and set a $57.00 price target on shares of X-Energy in a research report on Tuesday, September 8th. JPMorgan Chase & Co. initiated coverage on X-Energy in a report on Tuesday, May 19th. They issued an "overweight" rating and a $38.00 price target on the stock. Finally, Zacks Research upgraded X-Energy to a "hold" rating in a research report on Wednesday, May 20th. 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $34.25.

X-Energy Stock Up 6.3%

The stock's 50-day moving average price is $17.67. The stock has a market cap of $6.45 billion and a PE ratio of -105.80.

X-Energy (NASDAQ:XE - Get Free Report) last posted its earnings results 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 for the quarter. The firm's quarterly revenue was up 154.0% on a year-over-year basis. On average, research analysts predict that X-Energy, Inc. will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On X-Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in X-Energy during the 2nd quarter valued at $95,000. Formula Growth Ltd. acquired a new position in X-Energy during the 2nd quarter worth $174,000. AXQ Capital LP bought a new position in shares of X-Energy in the second quarter worth $188,000. California State Teachers Retirement System bought a new position in shares of X-Energy in the second quarter worth $201,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of X-Energy during the second quarter valued at $221,000.

About X-Energy

X-Energy, Inc NASDAQ: XE is an advanced nuclear energy company developing modular reactors and fuel systems designed to provide reliable, low-carbon electricity and industrial heat. Its primary technology is the Xe-100, a high-temperature gas-cooled small modular reactor intended for applications including grid power, industrial operations and data centers.

The company also develops and manufactures TRISO-X nuclear fuel, a coated particle fuel designed for use in high-temperature reactors.

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