X-Energy (NASDAQ:XE) Stock Falls 6.9% – What’s Next?

Shares of X-Energy, Inc. (NASDAQ:XE) traded down 6.9% on Wednesday. The stock traded as low as $14.14 and last traded at $14.39. Approximately 1,511,060 shares traded hands during trading, a decline of 74% from the average session volume of 5,910,062 shares. The stock had previously closed at $15.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. TD Cowen reissued a “buy” rating on shares of X-Energy in a report on Tuesday, June 23rd. Weiss Ratings initiated coverage on shares of X-Energy in a report on Monday, July 20th. They issued a “sell (d)” rating on the stock. Guggenheim reiterated a “buy” rating and issued a $57.00 price objective on shares of X-Energy in a research report on Tuesday, September 8th. Finally, Piper Sandler initiated coverage on shares of X-Energy in a research report on Tuesday, September 8th. They issued an “underweight” rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

X-Energy Stock Performance

The stock has a fifty day moving average price of $17.47. The company has a market capitalization of $5.77 billion and a price-to-earnings ratio of -94.60.

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 company had revenue of $54.60 million during the quarter. The company’s revenue for the quarter was up 154.0% compared to the same quarter last year. As a group, research analysts predict that X-Energy, Inc. will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank acquired a new stake in shares of X-Energy during the third quarter valued at approximately $28,000. IFP Advisors Inc purchased a new position in X-Energy during the 2nd quarter worth approximately $95,000. Silicon Valley Capital Partners acquired a new stake in X-Energy during the 2nd quarter valued at $103,000. Formula Growth Ltd. purchased a new stake in shares of X-Energy in the second quarter valued at $174,000. Finally, AXQ Capital LP purchased a new position in shares of X-Energy during the second quarter valued at $188,000.

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.