X-Energy (NASDAQ:XE) Stock Price Up 6.5% - Here's What Happened

Key Points

• X-Energy shares rose 6.5% on Friday, trading as high as $14.78 after closing at $13.83 the previous day. Volume was lighter than usual, with about 3.35 million shares changing hands versus the average 5.64 million.
• Wall Street sentiment remains mixed but constructive overall: six analysts rate the stock a Buy and three rate it Hold. The consensus view is a Moderate Buy, with an average price target of $37.86.
• Recent insider activity has been positive, with Director Kathleen W. Hyle and CAO Laura Garcia both buying shares at $23.00 each. Over the past 90 days, insiders have purchased 12,300 shares worth $282,900.

Shares of X-Energy, Inc. (NASDAQ:XE - Get Free Report) were up 6.5% during trading on Friday . The company traded as high as $14.78 and last traded at $14.73. Approximately 3,351,913 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 5,644,750 shares. The stock had previously closed at $13.83.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on XE. Guggenheim initiated coverage on shares of X-Energy in a research report on Tuesday, May 19th. They set a "buy" rating and a $57.00 price objective on the stock. Zacks Research raised shares of X-Energy to a "hold" rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. assumed coverage on X-Energy in a report on Tuesday, May 19th. They set an "overweight" rating and a $38.00 price target on the stock. Jefferies Financial Group restated a "hold" rating and issued a $22.00 price target on shares of X-Energy in a research note on Wednesday, June 24th. Finally, Cantor Fitzgerald assumed coverage on X-Energy in a report on Wednesday, May 20th. They issued an "overweight" rating and a $38.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.86.

X-Energy Stock Performance

The company has a 50 day moving average of $22.51.

Insider Buying and Selling

In other X-Energy news, Director Kathleen W. Hyle acquired 10,000 shares of the business's stock in a transaction dated Monday, April 27th. The stock was purchased at an average price of $23.00 per share, with a total value of $230,000.00. Following the transaction, the director directly owned 127,640 shares in the company, valued at approximately $2,935,720. The trade was a 8.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Laura Garcia acquired 1,200 shares of X-Energy stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $23.00 per share, with a total value of $27,600.00. Following the completion of the purchase, the chief accounting officer directly owned 196,822 shares in the company, valued at $4,526,906. This represents a 0.61% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 12,300 shares of company stock valued at $282,900.

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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