X-Energy (NASDAQ:XE) Stock Price Up 7.7% – What’s Next?

X-Energy, Inc. (NASDAQ:XE)’s share price shot up 7.7% during trading on Tuesday . The stock traded as high as $19.11 and last traded at $19.08. 1,261,280 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 5,614,224 shares. The stock had previously closed at $17.71.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on XE. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 target price on shares of X-Energy in a report on Friday, August 14th. TD Cowen reiterated a “buy” rating on shares of X-Energy in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. initiated coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set an “overweight” rating and a $38.00 price objective for the company. UBS Group cut their price objective on X-Energy from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $22.00 target price on shares of X-Energy in a research note on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

X-Energy Trading Up 7.4%

The business has a 50-day moving average price of $17.76. The company has a market cap of $7.73 billion and a PE ratio of -126.80.

X-Energy (NASDAQ:XE) last released 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 business had revenue of $54.60 million for the quarter. The firm’s revenue was up 154.0% on a year-over-year basis. On average, analysts expect that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On X-Energy

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