X-Energy (NASDAQ:XE) Trading Up 7.7% - Time to Buy?

Key Points

• X-Energy shares rose 7.7% to about $19.08, although trading volume was 78% below the average session volume. The company’s market capitalization is approximately $7.73 billion.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $37.86. Recent targets range from $22 to $41, while UBS lowered its target to $34.
• X-Energy 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 forecasted $0.09 loss. Analysts expect a full-year loss of approximately $0.76 per share.

X-Energy, Inc. (NASDAQ:XE - Get Free Report)'s share price rose 7.7% during trading on Tuesday . The company traded as high as $19.11 and last traded at $19.08. Approximately 1,261,280 shares changed hands during trading, a decline of 78% from the average session volume of 5,614,224 shares. The stock had previously closed at $17.71.

Analyst Ratings Changes

Several brokerages have recently weighed in on XE. Wolfe Research initiated coverage on shares of X-Energy in a report on Tuesday, May 19th. They issued a "peer perform" rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of X-Energy in a report on Tuesday, May 19th. They set an "overweight" rating and a $38.00 price target for the company. Morgan Stanley started coverage on shares of X-Energy in a research report on Tuesday, May 19th. They issued an "overweight" rating and a $41.00 price objective for the company. 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. Finally, Jefferies Financial Group reissued a "hold" rating and set a $22.00 target price on shares of X-Energy in a research note on Wednesday, June 24th. Six investment 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 MarketBeat, X-Energy currently has a consensus rating of "Moderate Buy" and an average price target of $37.86.

X-Energy Stock Up 7.4%

The company has a market cap of $7.73 billion and a P/E ratio of -126.80. The company has a 50-day simple moving average of $17.76.

X-Energy (NASDAQ:XE - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.06). The firm had revenue of $54.60 million for the quarter. The firm's revenue was up 154.0% on a year-over-year basis. As a group, equities analysts forecast that X-Energy, Inc. will post -0.76 EPS for the current year.

Institutional Investors Weigh In On X-Energy

A number of hedge funds and other institutional investors have recently modified their holdings of XE. Formula Growth Ltd. acquired a new stake in shares of X-Energy in the 2nd quarter worth approximately $174,000. AXQ Capital LP acquired a new position in X-Energy during the second quarter worth $188,000. California State Teachers Retirement System acquired a new position in X-Energy during the second quarter worth $201,000. Public Employees Retirement System of Ohio purchased a new stake in X-Energy during the second quarter worth $221,000. Finally, Bank of New York Mellon Corp acquired a new stake in X-Energy in the second quarter valued at $1,251,000.

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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