X-Energy (NASDAQ:XE) Stock Price Down 8.2% - What's Next?

Key Points

• X-Energy shares fell 8.2% to about $18.22 in mid-day trading, with volume down 67% from the average session.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $37.86, although ratings range from “sell” to “overweight.”
• The company’s quarterly revenue rose 154% year over year to $54.6 million, but it missed earnings expectations with a loss of $0.15 per share versus the estimated $0.09 loss.

X-Energy, Inc. (NASDAQ:XE - Get Free Report) was down 8.2% on Thursday . The stock traded as low as $18.14 and last traded at $18.22. 1,849,732 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 5,624,546 shares. The stock had previously closed at $19.85.

Analysts Set New Price Targets

Several brokerages recently weighed in on XE. Zacks Research raised shares of X-Energy to a "hold" rating in a research note on Wednesday, May 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $38.00 price target on shares of X-Energy in a report on Friday, August 14th. Jefferies Financial Group reiterated a "hold" rating and set a $22.00 price objective on shares of X-Energy in a report on Wednesday, June 24th. Weiss Ratings assumed coverage on shares of X-Energy in a report on Monday, July 20th. They issued a "sell (d)" rating for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of X-Energy in a research report on Tuesday, May 19th. They set an "overweight" rating and a $38.00 price target for the company. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, X-Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.86.

X-Energy Stock Performance

The firm has a market capitalization of $7.31 billion and a price-to-earnings ratio of -120.00. The company's 50 day simple moving average is $18.28.

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 the consensus estimate of ($0.09) by ($0.06). The company had revenue of $54.60 million during the quarter. X-Energy's revenue for the quarter was up 154.0% on a year-over-year basis. On average, equities research analysts expect that X-Energy, Inc. will post -0.76 earnings per share for the current year.

Hedge Funds Weigh In On X-Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new position in X-Energy in the 2nd quarter worth approximately $15,011,000. Bank of New York Mellon Corp acquired a new position in shares of X-Energy during the second quarter worth $1,251,000. Public Employees Retirement System of Ohio purchased a new position in shares of X-Energy in the second quarter valued at $221,000. Finally, Formula Growth Ltd. acquired a new stake in X-Energy during the 2nd quarter valued at $174,000.

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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