X-Energy (NASDAQ:XE) Shares Gap Up - Time to Buy?

Key Points

• X-Energy shares surged at the open, rising from a $20.35 prior close to $23.10 before last trading at $22.62 on Thursday.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy, three a Hold, and one a Sell, giving it a “Moderate Buy” consensus and an average price target of $37.86.
• The company’s latest quarter showed strong revenue growth of 154% year over year to $54.6 million, but X-Energy missed consensus earnings estimates, reporting a loss of $0.15 per share versus expectations of $0.09.

X-Energy, Inc. (NASDAQ:XE - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $20.35, but opened at $23.10. X-Energy shares last traded at $22.62, with a volume of 1,470,354 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on XE shares. Wolfe Research assumed coverage on X-Energy in a research report on Tuesday, May 19th. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. began coverage on shares of X-Energy in a report on Tuesday, May 19th. They set an "overweight" rating and a $38.00 price objective for the company. Morgan Stanley initiated coverage on shares of X-Energy in a report on Tuesday, May 19th. They issued an "overweight" rating and a $41.00 price target on the stock. Guggenheim started coverage on X-Energy in a research note on Tuesday, May 19th. They issued a "buy" rating and a $57.00 price objective on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of X-Energy in a research report on Wednesday, May 20th. They set an "overweight" rating and a $38.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.86.

X-Energy Stock Performance

The business has a 50 day moving average price of $18.34.

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 company had revenue of $54.60 million during the quarter. The firm's revenue was up 154.0% on a year-over-year basis. On average, analysts predict that X-Energy, Inc. will post -0.58 earnings per share for the current year.

Institutional Trading of X-Energy

An institutional investor recently bought a new stake in X-Energy stock. Bank of New York Mellon Corp acquired a new position in shares of X-Energy, Inc. (NASDAQ:XE - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 68,126 shares of the company's stock, valued at approximately $1,251,000.

X-Energy Company Profile

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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