X-Energy (NASDAQ:XE) Trading 9.1% Higher – Here’s What Happened

Shares of X-Energy, Inc. (NASDAQ:XE) shot up 9.1% during trading on Tuesday . The stock traded as high as $19.89 and last traded at $19.75. 3,731,250 shares were traded during trading, a decline of 33% from the average daily volume of 5,601,475 shares. The stock had previously closed at $18.11.

Wall Street Analyst Weigh In

A number of research analysts recently commented on XE shares. Wolfe Research initiated coverage on shares of X-Energy in a research report on Tuesday, May 19th. They set a “peer perform” rating on the stock. UBS Group decreased their target price on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Morgan Stanley initiated coverage on shares of X-Energy in a research note on Tuesday, May 19th. They issued an “overweight” rating and a $41.00 price target on the stock. Wall Street Zen lowered X-Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings initiated coverage on X-Energy in a research report on Monday, July 20th. They set a “sell (d)” rating for the company. Six 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.86.

X-Energy Trading Up 6.4%

The firm has a market capitalization of $7.83 billion and a PE ratio of -128.40. The business’s 50-day moving average is $18.21.

X-Energy (NASDAQ:XE) last posted its earnings results on Thursday, August 13th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The business had revenue of $54.60 million for the quarter. X-Energy’s quarterly revenue was up 154.0% compared to the same quarter last year. As a group, equities research analysts forecast that X-Energy, Inc. will post -0.76 EPS for the current year.

Hedge Funds Weigh In On X-Energy

Several hedge funds have recently bought and sold shares of the business. Formula Growth Ltd. bought a new position in X-Energy during the second quarter valued at about $174,000. AXQ Capital LP bought a new stake in shares of X-Energy during the 2nd quarter worth about $188,000. California State Teachers Retirement System acquired a new position in shares of X-Energy during the 2nd quarter valued at about $201,000. Public Employees Retirement System of Ohio bought a new position in shares of X-Energy in the 2nd quarter valued at approximately $221,000. Finally, Bank of New York Mellon Corp bought a new position in shares of X-Energy in the 2nd quarter 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.