X-Energy (NASDAQ:XE) Earns Buy Rating from Guggenheim

X-Energy (NASDAQ:XE)‘s stock had its “buy” rating reiterated by equities research analysts at Guggenheim in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $57.00 price objective on the stock. Guggenheim’s price objective indicates a potential upside of 211.48% from the stock’s current price.

A number of other brokerages have also recently commented on XE. Zacks Research upgraded shares of X-Energy to a “hold” rating in a report on Wednesday, May 20th. UBS Group lowered 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 report on Wednesday, July 1st. Jefferies Financial Group reissued a “hold” rating and set a $22.00 price objective on shares of X-Energy in a research note on Wednesday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 target price on shares of X-Energy in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. initiated coverage on shares of X-Energy in a report on Tuesday, May 19th. They set an “overweight” rating and a $38.00 target price for the company. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.86.

X-Energy Trading Up 3.3%

XE opened at $18.30 on Tuesday. The stock has a market cap of $7.44 billion and a PE ratio of -122.00. The company has a 50 day moving average price of $17.76. X-Energy has a 52 week low of $13.29 and a 52 week high of $37.10.

X-Energy (NASDAQ:XE) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $54.60 million during the quarter. The firm’s revenue was up 154.0% compared to the same quarter last year. Sell-side analysts predict that X-Energy will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On X-Energy

A number of hedge funds have recently bought and sold shares of XE. Wellington Management Group LLP purchased a new position in X-Energy in the second quarter worth about $15,011,000. Readystate Asset Management LP bought a new stake in shares of X-Energy during the second quarter valued at approximately $2,943,000. Bank of New York Mellon Corp bought a new stake in shares of X-Energy during the second quarter valued at approximately $1,251,000. Public Employees Retirement System of Ohio purchased a new position 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 approximately $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.