X-Energy (NASDAQ:XE) Stock Price Up 6.6% – Time to Buy?

X-Energy, Inc. (NASDAQ:XE)’s share price rose 6.6% on Monday . The company traded as high as $16.39 and last traded at $15.92. 2,272,515 shares were traded during trading, a decline of 61% from the average daily volume of 5,771,978 shares. The stock had previously closed at $14.93.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on XE shares. Wall Street Zen downgraded X-Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Zacks Research raised X-Energy to a “hold” rating in a research report on Wednesday, May 20th. Guggenheim reiterated a “buy” rating and issued a $57.00 target price on shares of X-Energy in a research note on Tuesday, September 8th. Jefferies Financial Group restated a “hold” rating and set a $22.00 price target on shares of X-Energy in a research report on Wednesday, June 24th. Finally, 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 objective on the stock. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.25.

X-Energy Trading Down 4.0%

The business’s 50 day simple moving average is $17.59. The firm has a market capitalization of $6.10 billion and a PE ratio of -100.13.

X-Energy (NASDAQ:XE) last released 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 firm had revenue of $54.60 million during the quarter. The firm’s quarterly revenue was up 154.0% compared to the same quarter last year. As a group, equities research analysts anticipate that X-Energy, Inc. will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On X-Energy

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new position in shares of X-Energy in the second quarter valued at approximately $15,011,000. BlueCrest Capital Management Ltd acquired a new stake in X-Energy in the second quarter worth approximately $7,436,000. Squarepoint Ops LLC bought a new position in X-Energy during the 2nd quarter valued at $5,967,000. Tidal Investments LLC bought a new position in X-Energy during the 2nd quarter valued at $3,344,000. Finally, Readystate Asset Management LP acquired a new position in shares of X-Energy during the 2nd quarter valued at $2,943,000.

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.