X-Energy (NASDAQ:XE) Shares Down 6.9% – Here’s Why

X-Energy, Inc. (NASDAQ:XE) shares traded down 6.9% during mid-day trading on Wednesday. The company traded as low as $14.14 and last traded at $14.39. Approximately 1,511,060 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 5,910,062 shares. The stock had previously closed at $15.45.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Piper Sandler assumed coverage on X-Energy in a research report on Tuesday, September 8th. They set an “underweight” rating and a $9.00 price target on the stock. Guggenheim reiterated a “buy” rating and set a $57.00 price target on shares of X-Energy in a research note on Tuesday, September 8th. Texas Capital raised X-Energy to a “strong-buy” rating in a research report on Monday, September 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $22.00 target price on shares of X-Energy in a report on Wednesday, June 24th. Finally, UBS Group cut their price target on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.25.

X-Energy Stock Down 8.2%

The company has a market capitalization of $5.77 billion and a P/E ratio of -94.60. The company’s 50 day simple moving average is $17.47.

X-Energy (NASDAQ:XE) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The business had revenue of $54.60 million during the quarter. The business’s revenue for the quarter was up 154.0% on a year-over-year basis. On average, sell-side analysts predict that X-Energy, Inc. will post -0.71 EPS for the current year.

Institutional Investors Weigh In On X-Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XE. Eastern Bank purchased a new position in X-Energy in the 3rd quarter valued at about $28,000. IFP Advisors Inc purchased a new stake in X-Energy during the 2nd quarter worth approximately $95,000. Silicon Valley Capital Partners purchased a new stake in X-Energy during the 2nd quarter worth approximately $103,000. Formula Growth Ltd. acquired a new position in shares of X-Energy in the 2nd quarter valued at approximately $174,000. Finally, AXQ Capital LP purchased a new position in shares of X-Energy during the 2nd quarter valued at approximately $188,000.

X-Energy Company Profile

X-energy is an advanced nuclear energy company developing small modular reactors and the specialized fuel needed to operate them. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor designed to provide reliable, carbon-free electricity and high-temperature process heat for utilities, industrial facilities and other energy users.

The company also develops TRISO-X fuel, a form of accident-tolerant nuclear fuel made with coated fuel particles designed to retain radioactive materials at high temperatures.