X-Energy (NASDAQ:XE) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of X-Energy, Inc. (NASDAQ:XE) saw unusually-high trading volume on Tuesday . 2,942,879 shares were traded during trading, a decline of 47% from the previous session’s volume of 5,586,104 shares.The stock last traded at $18.58 and had previously closed at $18.45.

Wall Street Analyst Weigh In

XE has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 price target on shares of X-Energy in a research report on Friday, August 14th. TD Cowen reissued a “buy” rating on shares of X-Energy in a report on Tuesday, June 23rd. Weiss Ratings initiated coverage on X-Energy in a research note on Monday, July 20th. They issued a “sell (d)” rating on the stock. JPMorgan Chase & Co. started coverage on shares of X-Energy in a report on Tuesday, May 19th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Guggenheim started coverage on shares of X-Energy in a research report on Tuesday, May 19th. They set a “buy” rating and a $57.00 target price for the company. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

X-Energy Price Performance

The company has a market cap of $7.42 billion and a P/E ratio of -121.73. The company’s 50-day simple moving average is $17.89.

X-Energy (NASDAQ:XE) last issued its quarterly earnings data 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. The business’s revenue was up 154.0% compared to the same quarter last year. Sell-side analysts forecast that X-Energy, Inc. will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On X-Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of X-Energy in the second quarter valued at approximately $15,011,000. Readystate Asset Management LP bought a new stake in X-Energy during the 2nd quarter worth approximately $2,943,000. Bank of New York Mellon Corp purchased a new stake in X-Energy in the 2nd quarter worth approximately $1,251,000. Public Employees Retirement System of Ohio purchased a new stake in X-Energy in the 2nd quarter worth approximately $221,000. Finally, California State Teachers Retirement System bought a new position in X-Energy in the 2nd quarter valued at $201,000.

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.