X-Energy (NASDAQ:XE) Sets New 12-Month Low on Analyst Downgrade

Shares of X-Energy, Inc. (NASDAQ:XE) hit a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from $41.00 to $34.00. Morgan Stanley currently has an overweight rating on the stock. X-Energy traded as low as $12.56 and last traded at $12.72, with a volume of 5,664,814 shares traded. The stock had previously closed at $13.08.

Several other research analysts also recently commented on XE. Texas Capital raised X-Energy to a “strong-buy” rating in a research note on Monday, September 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 price target on shares of X-Energy in a research note on Friday, August 14th. Weiss Ratings initiated coverage on shares of X-Energy in a research note on Monday, July 20th. They issued a “sell (d)” rating on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 price target on shares of X-Energy in a report on Wednesday, June 24th. Finally, Guggenheim reiterated a “buy” rating and set a $57.00 price objective on shares of X-Energy in a research report on Tuesday, September 8th. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.38.

Institutional Investors Weigh In On X-Energy

Hedge funds have recently modified their holdings of the company. Segra Capital Management LLC boosted its holdings in shares of X-Energy by 8.3% during the 3rd quarter. Segra Capital Management LLC now owns 15,678,017 shares of the company’s stock valued at $222,314,000 after acquiring an additional 1,202,283 shares in the last quarter. Wellington Management Group LLP bought a new stake in X-Energy during the 2nd quarter worth $15,011,000. State Street Corp acquired a new position in X-Energy in the 2nd quarter worth about $8,522,000. BlueCrest Capital Management Ltd acquired a new position in X-Energy in the 2nd quarter worth about $7,436,000. Finally, Two Seas Capital LP increased its holdings in X-Energy by 39.4% in the 3rd quarter. Two Seas Capital LP now owns 1,394,413 shares of the company’s stock worth $19,773,000 after purchasing an additional 394,413 shares in the last quarter.

X-Energy Price Performance

The stock has a market cap of $4.65 billion and a PE ratio of -76.33. The stock’s 50-day moving average price is $16.79.

X-Energy (NASDAQ:XE) last announced 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 firm had revenue of $54.60 million during the quarter. The business’s revenue for the quarter was up 154.0% compared to the same quarter last year. On average, equities research analysts expect that X-Energy, Inc. will post -0.71 EPS for the current year.

About X-Energy

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.