Readystate Asset Management LP Purchases New Holdings in X-Energy, Inc. $XE

Readystate Asset Management LP acquired a new position in X-Energy, Inc. (NASDAQ:XE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 160,285 shares of the company’s stock, valued at approximately $2,943,000.

Other hedge funds have also recently bought and sold shares of the company. AXQ Capital LP acquired a new stake in shares of X-Energy in the 2nd quarter valued at $188,000. Wellington Management Group LLP acquired a new position in shares of X-Energy during the second quarter valued at $15,011,000. Formula Growth Ltd. bought a new position in X-Energy in the second quarter valued at about $174,000. Public Employees Retirement System of Ohio acquired a new stake in X-Energy in the second quarter worth about $221,000. Finally, Bank of New York Mellon Corp bought a new stake in X-Energy during the 2nd quarter worth about $1,251,000.

X-Energy Stock Performance

XE opened at $17.71 on Monday. The stock has a fifty day moving average price of $17.78. The firm has a market capitalization of $7.20 billion and a price-to-earnings ratio of -118.07. X-Energy, Inc. has a twelve month low of $13.29 and a twelve month high of $37.10.

X-Energy (NASDAQ:XE) 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 firm had revenue of $54.60 million for the quarter. X-Energy’s revenue for the quarter was up 154.0% compared to the same quarter last year. Research analysts forecast that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings assumed coverage on shares of X-Energy in a research report on Monday, July 20th. They set a “sell (d)” rating for the company. Jefferies Financial Group restated a “hold” rating and issued a $22.00 price objective on shares of X-Energy in a report on Wednesday, June 24th. JPMorgan Chase & Co. initiated coverage on shares of X-Energy in a research note on Tuesday, May 19th. They issued an “overweight” rating and a $38.00 price objective on the stock. Wall Street Zen cut shares of X-Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, TD Cowen reissued a “buy” rating on shares of X-Energy in a research note on Tuesday, June 23rd. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.86.

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.