X-Energy (NASDAQ:XE) Reaches New 52-Week Low – Here’s What Happened

Shares of X-Energy, Inc. (NASDAQ:XE) reached a new 52-week low on Thursday. The company traded as low as $13.22 and last traded at $13.44, with a volume of 5,003,158 shares changing hands. The stock had previously closed at $14.39.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XE. Piper Sandler initiated coverage on X-Energy in a report on Tuesday, September 8th. They issued an “underweight” rating and a $9.00 target price for the company. UBS Group decreased their price target 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. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 price objective on shares of X-Energy in a report on Friday, August 14th. Wall Street Zen lowered shares of X-Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 target price on shares of X-Energy in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, X-Energy has an average rating of “Moderate Buy” and an average target price of $34.25.

X-Energy Trading Down 0.4%

The stock has a 50-day moving average of $17.33. The company has a market capitalization of $5.57 billion and a P/E ratio of -91.40.

X-Energy (NASDAQ:XE) last issued its earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share (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. X-Energy’s revenue was up 154.0% on a year-over-year basis. On average, sell-side analysts expect that X-Energy, Inc. will post -0.71 EPS for the current fiscal 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 acquired a new stake in shares of X-Energy during the 3rd quarter worth approximately $28,000. GK Wealth Management LLC acquired a new stake in X-Energy during the 3rd quarter worth $57,000. IFP Advisors Inc acquired a new stake in X-Energy in the 2nd quarter valued at about $95,000. Silicon Valley Capital Partners acquired a new position in shares of X-Energy during the 2nd quarter worth approximately $103,000. Finally, Formula Growth Ltd. purchased a new stake in shares of X-Energy in the second quarter valued at approximately $174,000.

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.