X-Energy, Inc. $XE Stock Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in X-Energy, Inc. (NASDAQ:XE) by 87.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,710,077 shares of the company’s stock after buying an additional 1,261,498 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in X-Energy were worth $38,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of X-Energy during the 3rd quarter valued at $6,268,000. BOKF NA bought a new stake in shares of X-Energy during the third quarter worth $1,134,000. MN Wealth Advisors LLC purchased a new position in shares of X-Energy during the third quarter valued at $390,000. Wedbush Securities Inc. purchased a new stake in shares of X-Energy during the third quarter valued at about $269,000. Finally, Inspire Investing LLC purchased a new position in X-Energy in the 3rd quarter worth $390,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on XE shares. Guggenheim reaffirmed a “buy” rating and issued a $57.00 price target on shares of X-Energy in a research note on Tuesday, September 8th. Morgan Stanley lowered their price objective on X-Energy from $41.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Needham & Company LLC assumed coverage on X-Energy in a report on Monday, October 26th. They issued a “hold” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price objective on shares of X-Energy in a research report on Friday, August 14th. Finally, Texas Capital raised X-Energy to a “strong-buy” rating in a research note on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

X-Energy Price Performance

Shares of X-Energy stock opened at $10.05 on Thursday. The firm’s 50-day simple moving average is $14.25. X-Energy, Inc. has a 1-year low of $9.95 and a 1-year high of $37.10.

X-Energy (NASDAQ:XE) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) 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 for the quarter was up 154.0% on a year-over-year basis. On average, analysts predict that X-Energy, Inc. will post -0.76 EPS for the current fiscal year.

X-Energy Profile

X-energy is an advanced nuclear energy company that develops small modular reactors and nuclear fuel designed to provide reliable, carbon-free electricity and industrial heat. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor that uses helium as a coolant and is designed for modular deployment.

The company also develops TRISO-X fuel, a coated-particle fuel technology intended to withstand extreme temperatures and support the operation of advanced reactors. X-energy’s products are aimed at utilities, industrial customers, and other organizations seeking dependable power and process heat with lower carbon emissions.

Founded in 2009, X-energy is headquartered in Rockville, Maryland.